SuperNET

I had a long chat with James/jl777, felt a need to ask some questions on behalf of Nxt + SN investors.

The interview is being edited atm and will be posted on NXTER.ORG, then translated and spread all around.
We all need to take into account the consequences of the SN-NXT break-up and talk to each other again. Both projects are important, IMO.

I’ll post some of our talk here. Do act on it.

——

apenzl
It must be hard to prioritise what capabilities of SN you should work on.

jl777
not really. i prioritize by what has a tester ready to test
simple as that
it is 10x more efficient for me to work on something with an active tester so I get feedback right away, instead of months later (or never)
(…)

I was planning to do an active tradebot for the SuperBTC market
but not sure if NXT people’s will use it
they could use it via AE, just by using AE

apenzl
I think they will. SuperBTC is getting more and more attention, some asset issuers started using it for dividends too.

jl777
the tradebots accumulate a way to specify some long term action
you would be able to say buy 10,000 NXT at anything lower than .000025 over next week
and it will keep checking the orderbook and submitting orders when it sees it can do this
this is what I am testing this weekend and will use this to create a SuperBTC market in the AE

CALL FOR TESTERS

jl777
Responsive API testers are what is needed the most
people dont realize that testing takes a lot of time and effort and right now guess who is having to do all that testing?
and the testing doesnt require coding, just common sense
if you can fill out a form from the API page, you can test the API

apenzl
Just the word “API” scares most non-coders.

jl777
ok “web form testers” then
it is a web form

apenzl
Haha, such re-wording might actually work

jl777
all the fields are there, fill them out, click the button
then the hard part is to interpret the results…
but no coding, all via web page form

apenzl
Good. Let’s try to get people involved in filling out web forms then.

jl777
We have funds to pay testers
but nobody steps forward
I just think very few are technical at all and most just want to have things magically work

jl777
now one thing that a NXT plugin dev could do is see if iguana will run as a NXT plugin
if so, then it will mean iguana can become a NXT plugin
since it is html theoretically it can, but it is nonstandard and I fear asking the NXT core devs as they will probably say that is improper usage of NXT plugins (…).

MyNxt.info is a long time and widely appreciated Nxt service site, which offers an online- and mobile- wallet, Nxt wallet plugin system, blockchain explorers, account alert service and much more. MyNxt.info has been run by abuelau, but was recently passed on to SuperNET. This brings new development, such as a general overhaul of services, updating them to the run on the latest NRS, and also integrating SuperNET developments such as the Multigateway and InstantDEX as wallet plugins. Tosch and VanBreuk will be the ones operating and developing the site on behalf of SuperNET.

VanBreuk writes:

We aim to do more than keeping a good service working: we want to make MyNxt an essential tool for everyone in the Nxt community, and other crypto communities active in SuperNET and beyond.

For this, we want to invite everyone to bring on their feedback about suggestions and improvements for MyNxt.

Since MyNxt now works under the SuperNET infrastructure, there will be new life for MyNxt in the Asset Exchange (asset ID 2176003302076381931).

This is the first news release for the NxtForum community:

—

From November, SuperNET will manage the MyNxt project, including the Block Explorer, Online Wallet and NxtAd service.

1 November 2015

SuperNET is to take over Nxt wallet and block explorer initiative, MyNxt.info, with immediate effect. The servers have already been migrated into the SuperNET infrastructure, and the lead development and operation are now in hands of Tosch and VanBreuk. Both have been involved in the Nxt community since its early days: Tosch as developer of php/js/python applications and VanBreuk as forum administrator and technician for several projects, including the Nxt Wiki and the Multigateway.

Block Explorer

One of the greatest advantages of cryptocurrencies is that, while being available to anyone and offering a strong level of anonymity when used correctly, the blockchain remains fully transparent. Besides offering its Online Wallet and other tools, MyNxt provides a powerful overview of blockchain transactions on the Nxt network, and will do the same for other cryptocurrency networks in the future.

MyNxt already does an outstanding job of bringing blockchain technology to new users. It offers a simple, secure and open-source Online Wallet. Registering requires only an email address and a password. The MyNxt Online Wallet makes accessing Nxt easy, and allows for a gradual learning curve for anyone who wants to start using cryptocurrencies. The wallet is available at https://wallet.mynxt.info/

Plug-ins

One of the most important features developed in the last year has been MyNxt’s plug-ins system, a straightforward way for users to activate additional tools in their online wallet. This plug-in architecture has huge potential but has not received yet the attention it deserves. This is why the new development plans for the service have a strong focus on MyNxt wallet plug-ins. SuperNET developments like the Multigateway, InstantDEX or Pangea Poker will be available as plug-ins.

Development roadmap

With the shift to SuperNET hosting and management, a new development roadmap has been created:

2015 November – December

Bring the Nxt Block Explorer more up-to-date with current Nxt developments. These include transparent forging, increased meta-data for the Asset Exchange, and explorer tools for the Monetary System, the Marketplace and the Alias system.

Promote coins community discussion to gather feedback for further improvement of the Block Explorer, and for continued development of MyNxt Tools such as the Charts, the Forging Calculator, NxtAd or the Alerter service.

2015 December – 2016 1st Quarter

Add powerful and reliable Blockchain Explorers for other active coins in the SuperNET community. First on the list is currently BitcoinDark.

Improve the MyNxt API to give developers easier access to a broad range of functionality.

2016 1st Quarter – 2nd Quarter

Include SuperNET features as plug-ins for the MyNxt Wallet.

Create new plug-ins with other interesting tools that Nxt or SuperNET have to offer.

Connect the Block Explorers to the MyNxt Wallet, providing full integration between both for the MyNxt users. This will allow greater functionality such as buying assets or sending encrypted messages from the Block Explorer pages.

This platform will provide many exciting tools and ways to trade such as automatic arb discovery across exchanges, a single unified orderbook across all exchanges, decentralized orderbooks for p2p trades, atomic coin swaps, decentralized pegs, nxt asset trading, multigateway voting pool and much more! If you like to make money this tool will certainly help you with that goal!

TVE enables users to promote their websites and social media presence whilst earning NXT, Bitcoin and Blitz for their social interactions on all the major social networks.

TVE is the first social exchange platform that allows users to cash out points to digital currencies.

Killakem writes:

The Viral Exchange (TVE) is a next generation social exchange with the goal of monetising social network activity via the blockchain.

TVE is a free social exchange network which helps businesses increase their social network presence and drive users to their websites. The exchange system is very simple: every time a user likes, follows, or views another member’s social media page they receive Viral Points which can then be used to get more followers, likes, views or visitors to their own website or social media pages. The Viral Exchange is the first social exchange platform that allows users to cash out points to digital currencies. Users can earn Bitcoin, NXT and Blitz with their Facebook, Twitter, Google+, YouTube plus many more.

The Viral Exchange is now a SuperNET official partner! TVE will be helping to raise awareness of SuperNET inside and outside of crypto, while also providing free marketing on the platform and exposure through our press releases. TVE will also utilize InstantDEX for automated user withdrawals once its ready and we will be integrating SuperNETs innovative technology with TVE wherever possible.

Version 2 of TVE is currently in beta testing and 100 Blitz is being offered for every new bug found (cosmetic bugs not included).

TVE is being redeveloped from scratch, the new platform will utilize an MVC Architecture providing an extensive API. Moreover, the NXT Monetary system will be used as part of our Proof Of Reserve system, this will give users, marketers and asset holders complete visibility of the purchases and withdrawals on The Viral Exchange. Asset holders will not need to rely on the information we give them: all deposits and withdrawals will be publicly available on the blockchain.

This week we’ve got the usual roundup of news and developments. The tech is coming together, as James writes: ‘It is getting very close. The core, GUI and windows are really three totally independent projects, but they all need to come together to get a windows release. This is happening.’

James own role could be coming to an end as the core functionality nears completion. ‘I prefer to just make a decentralized self-organizing topology network that allows individuals to remain private and offer services without worrying about all the details cuz it just works.’

Agents

Agents is James’ dev-friendly plugins system. It offers an easy way of creating new features. James writes, ‘I released Lchains MGW, so far not so many bugs at all, and I got the InstantDEX ported into new structure in 2 days. That includes making cgi, which I never did before. Need to debug it, won’t take long. Then we can get a GUI + core to test on unix. When Windows has SuperNET, then we can make a one click installer. My work is almost done.

‘With agents, especially supporting many languages, I just need to be advising other coders, instead of having to do it all myself. It is like completing the operating system, but there are not so many applications yet. That is why I am making reference applications like MGW, InstantDEX, etc.

‘echodemo is 50 lines of code, but it has all that is needed to make an agent. If you can parse and process JSON, that is all an agent needs to do. It is a JSON processor: JSON input -> JSON output. The agent system automagically gets the inputs from the entire SuperNET and returns the output to where it needs to go. All the networking is abstracted out of it.’

If you want to join development, join SuperNET Slack channel #agents.

Dev assets

SuperNET will be issuing SuperNET Dev assets / “carreer assets”.

The dev will own 90% of this, SuperNET 5% and 5% is dividended out.

100% of a devs earnings from SuperNET is pushed through this asset, so investors can for the first time directly invest in the future earnings of a specific dev. Also, each dev will have a high priced sell wall, so people that want to donate can just pay the above market price.

James writes, ‘Last year I had this idea for artists/athletes, but they are entangled in real world contracts and agents, and therefore problematic, also making sure that they honor the dividend commitment is even more problematic and would require real world contracts.

But the basic idea is sound, ie allow a talented professional to capitalize their future revenues. This allows such a talent to avoid the “starving student” years by selling off part of their future earnings. It also allows investors for the first time (!) to invest in a specific dev, instead of the projects a dev is involved in. Granted, these assets can only assure investors that revenues from SuperNET are paid out, but since it is based on trust in a specific dev, the asset is directly related to the trustworthiness of the dev and his/her future potential’.

Dividend sent

BTCDdev and longzai assets have been sent to SN holders as SuperNET Slack reached 777 users.

MGW agent

James now uses Lchains to make deposits to MGW. Integrating Lchains makes it significantly faster: ‘Tx 14981284329551545928 is the first automated Lchain MGW deposit. I still need to get the stats reporting fully debugged, but withdraw is the next (and last) thing needed to be done for MGW to be ready for larger scale testing. Latest really really fast ramchain has regenerated 300K BTC blocks in 10 hours. Since it used to take more than 10 days, this is quite a speed boost and also enables debugging at a much faster cycle.

‘I added the ledgerchain code to the (literally) 7th iteration of the ramchain generation. It still will take some minutes to restart from scratch, but if that becomes an issue I already figured out an instant start solution.

‘I had to get the BTC MGW not only working, but fast to run and fast to start and fast to regenerate. These actually are three completely different problems and each one not so easy, but the latest solution is getting close to the “speed of light” type of barrier where I can’t see how to make it go much faster. Maybe someone smarter than me will find ways to make it go even faster… oh, it uses a lot less RAM too. When the code is really optimized, both the algorithm, resource usage and code, then it starts becoming harder and harder to improve it.’

Lchains are the evolved form of ramchains in which ramchains are used to create another layer of data, i.e. the ledger. Learn more about Ramchains here: http://test.nxter.org/?p=7826

Test it

BTCD Lchains MGW is ready for testing. The same code for BTCD MGW is used for BTC MGW. Instructions:

The above is the proper syntax to query the MGW servers via the relays.

Small fees to cover server costs

‘MGW [Nxt asset ID 10524562908394749924] has a valuation that is 10% of InstantDEX, actually a bit less due to server costs. I added a bit of withdraw fee (0.05%) and nobody complained, so maybe it can cover server costs from there’.

InstantDEX agent

InstantDEX (Nxt asset ID is looking great:

James writes, ‘I predict I will reach code complete (meaning only bug fixes left to do) for my portion of InstantDEX on / – what day is today? – / – [tuesday] – / – cool. I think I am at code complete’.

‘The first version will be limited to a few thousand nodes. There are other components too; still a wider scale beta test is hopefully possible soon as the MGW servers are being configured, windows actually got past init and recv packets and the GUI is looking good. Quite a few parts to put all together and we will need as many testers as possible’.

It is still unix only, if you’re interested, join SuperNET Slack channel #testing-instantdex

‘The advantage to testing early is that you will be able to take advantage of the arbitrages that InstantDEX will find automatically for you. I still have improvements in the core I want to do, but I think I can do this as the rest is being finished. I don’t like the long time it takes to regenerate orderbooks, but from the Lchains work I have a way to realtime update NXT tx so it takes no time.

Once I use that for the NXT AE orderflow, then it should be able to create orderbooks in less than 1 second. That and making a dynamic topology for efficient native InstantDEX orderbook propagation. I hope to get both things working this weekend, just might be a long weekend, but when it is done, then we will be able to handle thousands of active InstantDEX traders.’

Cryptosleuth, working on the GUI, writes, ‘I am trying to make it so mostly everything can be customized. The charts on the right you can switch between candlestick/line/areaspline atm, and I am thinking of some other things you can put in there, like combining two to make a mini orderbook/place order window to trade multiple markets easy. I haven’t spent much time on extra things that aren’t needed at GUI’s core.’

PrivateBET agents

Btcddev will be writing a set of C-based agents. The decentralized relays will act as a clearinghouse of all available bets, results, etc. By using the agents method, the problem is divided into several pieces, each becoming a single purpose agent.

Data feed

‘We have the data feed agents, which are there to get (for example) the sports results published to SuperNET – they don’t have to deal with exactly who needs to get it, etc, as SuperNET handles all that. Just get the data and publish.’

Privatebet

‘Now, SuperNET has this data about the sports events and any client with the Privatebet client agent will be able to browse and subscribe, but most importantly the end user will be able to post privatebets, and all the other privatebet clients will be able to find all the available privatebets. Then, similar to InstantDEX direct peer-to-peer process, they will verify terms, lock funds, and then when the event is completed release payment to the winner.’

Cashier Agent

‘There will be a generic cashier agent available to all the other SuperNET agents, so the process of payments is abstracted. At first it will need to be for the same currency in matched amounts, but later I will allow matching X amount of this currency for Y amount of that currency. Of course if the market moves, the value changes, but this is part of the fun.

‘The handling of monies can of course be monetized using the golden rule. Just a percentage of bets to be kept, and the privatebet itself is not needing a bankroll.

‘When the privacy agents become available, betting will be private. In the meantime if you are in USSA please don’t use this, as it is most likely not allowed. Unless you are in Las Vegas, or one of the 14,000 Indian casinos…

‘Since there isn’t a lot of liquidity on the sell side, I can offer bulk amounts direct in BTC or NXT, 1% discount from market price per BTC to a max discount of 20%, but only for a limited time and total amount. PrivateBET [asset ID 17083334802666450484] is majority owned by NXTprivacy [ID 17911762572811467637], which SuperNET has 25% stake in.’

Crypto777

Dividend

James has donated a significant proportion of his new Crypto777 asset (id: 13476425053110940554) to SuperNET. 7.5% / 7.5% / 5% has been donated to SuperNET / NXTventure / JLH, and 24%+ has been sent into the SuperHODL account.

James writes, ‘Yes, I did just put in nearly half of crypto777. It is now the fourth core asset and I didn’t want there to be any resistance for its usage within SuperNET. What is good for crypto777 is good for SuperNET. The crypto777 donated to SuperNET has added around 30 NXT to UNITY’s NAV’.

Crypto777 is a pipeline asset, and the dividend won’t be made for some time. ‘Current AE orderbook sells need to be cleared and the tech needs to be in beta release or very close’, James writes.

How is crypto777 going to be monetized?

‘There are several ways it can be monetized. It is not officially out yet, I just had a bit of spare time so wanted to get it all in place. It will take some time to get ramped up for the selling of services. It is not a short term thing.

‘The backed and pegged system aims to make a blockchain-enforced mechanism to allow people to get interest on their crypto holdings and there will also be a bid/ask spread built into the blockchain, so these are two sources of monetization.

‘Additionally my idea for providing crypto consulting services to fiat companies, especially with tech like Lchain, well just a few big contracts and it will be making for quite a large cashflow. With the agents system that I will extend to have crypto777 primitives, customizing private blockchain (or even nochain) will be much more efficient than making something from scratch.’

Crypto777 aims to ‘be the tech that solves the final unsolved things about crypto’:

Blockchain bloat

Price volatility

Inconsistent blocktimes

Too easy to get hacked

‘With the new SuperNET agents system, I am seeing how many parts can be done in a nice and simple way and reducing the scope of the remaining issues, but this is not an easy problem to solve, as a fully decentralized fiat peg is kind of hard to do. Consensus Research (andruiman and kushti, https://nxtforum.org/consensus-research/) is helping from the theoretical and math side and will even be doing a white paper, which everybody seems to like so much.

Job offer to technical sales creature

‘I am seeing literally dozens of companies getting millions of dollars, and the tech they are needing doesn’t seem to be very much advanced. So, I think with the crypto777 agents system, it would be possible to create customized solutions for corporates, especially the ones with tons of VC money and not enough devs.

‘I need somebody to take the lead for developing this service. We can offer fixed price contracts (for projects with very high confidence levels) so there won’t be any budget risk.

I think contracts in the $50,000 to $100,000 range are possible. Such contracts at first would need to be done by myself, so clearly can’t get this sold in the near term – then again, maybe if we had budgets like that, we can hire coders to work under my guidance. Net profits would be going out as dividends. So if you have experience with technical sales to corporates, contact me.

‘I think some sort of bounty for business brought in and/or percentage of deal flow makes this worth the while for someone who already has the contacts. And if you have experience managing dozens of coders doing half a dozen projects, then this could ramp up into a nice amount of business.’

1%-20% discount on core assets

James writes, ‘I can offer a discount of 1% off of marketprice per BTC, up to a max of 20% off. I accept BTC, NXT, maybe even other things’.

‘Short term I think NXTcoinsco/Tradebots will be pretty good, medium term NXTprivacy or Privatebet, and longer term crypto777. Maybe allocating among these would be a good balance of risk/reward. I can make a single bundle for you at the standard discount.

‘Tradebots/NXTcoinsco gets 30% the revenues that InstantDEX asset holders get, so from a valuation standpoint it is worth at least 30% of InstantDEX. Additionally it will get monetization from the tradebots leasing that it facilitates, it might even do some trading itself. Other than NXTprivacy I think it is one of the most undervalued. But NXTprivacy is further out, so it is longer term hodl.’

SuperNET Services updates

Jay

Jones is creating a Chrome extension for the next version of Jay. ‘With jay v.2 as a browser plugin, it will allow transactions to be made by clicking on the TX_ codes generated, so making trades quickly will be possible in a web application setting. Working as fast as I can :)’.

Cryptocard

Semi-anon card from Coinomat
Nxt asset ID: 7110939398145553585

Coinomat: ‘The bank we’re working with now is extremely slow, it is killing me. I found another solution, which seems perfect. The old card will work too. The new cards will be active starting from next week. ’

Card loading will cost 1% + $3. ‘The purchase price will be lower than for the old card.
After we launch this, cryptocard asset will be brought back to life. This is a matter of days.’

‘This API expansion has, besides clarity and completeness, another big advantage. Wrapped into an additional client module, it can be used as a tool to teach trading and explain strategies. There are thousands of sites offering online courses/classes, so a good affiliate program is a win/win for all and helps to spread FinHIVE awareness. Just a handful of affiliations would be sufficient because they are multiplicators. And a trader who used these tools could convert into a loyal customer over time. Moreover, since this module contains not only the definitions/visualization (like a TA encyclopedia) but also the current and historic performance (each symbol get its own data profile, containing the performance for all known indicators) compiled from profiles, it goes much further than all other tools at the market. This is just an additional revenue stream by recycling stuff, from other stuff we need anyway, so it makes sense.’

Now I’m wrapping all this stuff, including the new descriptions and previous components, into the final API, starting the performance-statistics and signaling for all TA components on each symbols.’

‘A clever mind will recognize quickly how to utilize, dense and pipe all this stuff here into something meaningful, to shift probabilities into desired direction. The reference client later will make things much easier then. Now it’s only useful for some devs.

‘Besides visualization it will also contain a complete TA encyclopedia and all stats and tools to build trading systems by simple booleans, including backtesting. And some other useful stuff of course. I guess latest when SkyTrade and SkyBot appears, we will gain a decent level of attention.’

James: ‘I don’t think many people realize how powerful InstantDEX+SkyNET will be.’

Pangea Poker

Decentralized Poker
Nxt asset ID: 6883271355794806507

Valarmg writes, ‘The first 90% of software development takes 90% of the time. The last 10% takes the other 90% of the time, according to the main dev. So it feels like we are close to the first playmoney release, but there are lots of small parts to finish off.

‘The only good news about these delays is that the structure of SuperNET has changed into a much more modular architecture in the last few months, so it’s a much better time to try and integrate a project than earlier in the year.’

Freemarket

Decentralized Marketplace
Nxt asset ID: 134138275353332190

A new FreeMarket version 1.4 now available.

Knuckle writes: ‘This is our best version yet. There are a couple of new features to make FreeMarket easier to use: New, separate views for sellers (View Your Active Items, View Your Sold Items, View Your Expired Items, and View Your Pending Sales). We have revamped the Relist feature so that it will only relist the quantity of an expired item that didn’t sell; for example, if you listed 10 of an item, sold 3, and then the item expired with 7 unsold, Relist will put 7 of the item up for sale again.’ Trade at http://nxtfreemarket.com.

SuperNET Core Coins

Bitstar

t3cltd writes, ‘Connecting the ATMs to InstantDEX is the ultimate goal. We are waiting on a number of things, not least of which for InstantDEX to be fully tested and operational in order to then be able to set the ATM real-time trade orders to automatically be handled by InstantDEX. I’m hoping to not have to set them on a centralised exchange process at all.

We’re in one of those situations that could see it all happen in double-quick time once we reach a certain point, or it could remain bogged down in inching forward as elements are put in place. InstantDEX is a critical part of everything both SuperNET is doing and the ATM side of things. It is critical that it be given the attention it needs to test fully and prove itself as the first decentralised trading platform in the industry.

Any revenue that SuperNET earns from the ATMs will come from the transaction fee generated through InstantDEX.

BTCD

BitcoinDark has started a new feature in recent weeks: dividend payments to stakers. This was always a plan for BTCD, with stakers receiving a proportion of revenues from InstantDEX and SuperNET, as well as through inflationary ‘rewards’ (5% each: the 5:5:5 scheme).

Now, the MMBTCD asset (a market-making and mutual fund built on Nxt, that pays out in superBTCD) is paying 10% of weekly revenues directly to stakers. Each week, a call integrated into the core of BTCD creates a list of all recent stakers, then pays them a proportion of the total dividend, depending on how many blocks they staked. Unlike paying stakers in proportion to their stakeweight, this rewards clients who stake 24/7, maintaining the strength of the network. BTCD is the first gen1 currency to include such a feature.

A script written by Btcddev enables anyone to make use of the functionality. Once it has been tested, it will be integrated into the new BTCD client, and ‘that way, BTCD can really be attractive as an asset. Anyone can easily pay divs using btcd’s network for his service.’

‘Anyone who wants to use btcd for a revenue generating service might consider paying dividends to stakers. They keep the network going, and the value of the BTCD (and therefore the service itself) will rise. A case in point is InstantDEX’, writes Btcddev.

Btcddev continues, ‘The getstakers command outputs number of blocks staked, not how much you staked. So if you stake constantly and find 10 blocks in a week, you will receive 10x the payment than if you turned it on for an hour and staked 1 block, even though you staked the same number of BTCD’.

For upcoming dividends, as well as the 10% revenues from MMBTCD, James is donating 100 BTCD (this week only), mivond is donating 10% of revenues from bitcoindarkdice.net.

‘Think about this. Once InstantDEX and other major services begin generating money, a large percentage of the new money supply will be bought as BTCD and paid to stakers, reducing inflation. It would be nice if BTCD bought reached greater than or equal to number of coins staked.’

FIBRE

The Fibre project has released the first game in its series, Fibre SkillShot created with Unity3d technology. Integration of digital currency payments and incentivized tournaments are already in development. Fibre will also be partnering with another game project. More details coming soon.

FibreLock v2 is a new way to secure your wallet guarding against Key Loggers, Mouse loggers and brute force password attacks. It works by combining multiple methods for the wallets passphrase making it near impossible to predict while rendering most malware useless. FibreLock v2 like its previous version will also be integrated into the Bitcoin C wallet as a proof of concept.

FibreTeam has started working on FibreOS 2.0 and hopes to release it soon.

FibreOS 2.0 will utilize a custom, optimized and hardened Ubuntu environment together with full TOR support. Serving as cold storage will include all Core Coins wallets, SuperNET wallet and InstantDEX – SuperNET’s Decentralized Exchange.

FibreOS 2.0 will be delivered with a device which you can take anywhere you go, plug in needed components, stake your coins on it and install anything you need additionally.

PayExpo2015

Nxt enjoyed a solid presence at the conference.

Bas Wisselink (Nxt Foundation) writes, ‘Nxt was one of two booths for crypto, the other being GetCredits. We got some pretty high level attention, for which we are now going to do follow ups. We’ve talked to a lot of people from both the banking and payment industries. They don’t actually hate Bitcoin or crypto, but Bitcoin is definitely not being considered as much as you’d expect’.

‘They have seen the potential of the new technologies. They see more opportunities in newer tech that is built with new ideas, but taking the innovations of bitcoin, and they already know Bitcoin will be obsolete quite soon. And why would one go with obsolete technology?’

‘Uses that people are looking for are primarily secure and auditable ledgers and tokenisation. For the “developed” world, the currency angle doesn’t really strike a chord, but for the “developing” world, the currency side is potentially HUGE. We got a few people wanting to work on that. One of the lessons here is to look for solutions that actually solve a problem for a large demographic’.

TipTap

TipTap is a tipping application. The service is completely free of charge. Forever’.

‘Unlike other tipping services, TipTap uses the Nxt blockchain to facilitate the tipping micro-transactions, thus it doesn’t rely on any centralized ledger. Currently TipTap is compatible with Reddit, Slack and Twitter; 3 of the largest and most used platforms today’.

To get this moving, an official Tipping Fund of more than $2200 (200.000 NXT) is paying weekly prizes to tippers who join @ http://www.wetiptap.com and use the service to spread NXT.

To The Mooooon

NXT ATM in Vienna

Coinimal writes, ‘We have established the world’s first NXT ATM’.

‘The ATM is placed in the ‘Gretel’ café in Vienna’s most popular shopping street, Mariahilfer Strasse. The purchase process takes only a few seconds and after insertion of the desired cash amount into the machine, it automatically sends the equivalent in Bitcoin or NXT to the desired address. The beauty of this ATM is, that we were able to jointly expand the General bytes software so that this machine has the opportunity to issue NXT’.

Hackco.in London Hackaton

The aim of HackCoin is to catalyse investment into the digital currency startup community during the Hackathon Day and beyond (prizes are focused on helping to fund ideas).

The subject in London is Smart Bonds and Digital Identity, and the hackers are going to be working with NXT API. ‘This galactic event will be held on June the 20th in Level 39, Europe’s largest FinTech hub. UP TO twenty of world’s best hackers and developers will gear up and craft their socks off on universe’s most creative Blockchain 2.0 FinTech ideas’, writes crypto scout.

danosphere writes, ‘We’re working with vanbreuk to get SYS into the MGW + Android SuperNET wallets as soon as possible. There are some code updates happening to MGW which James is working on so we’ll be added once that refactoring is completed. Shouldn’t be too long, James is always working.

VPN

BitNet Lottery is the first P2P blockchain Lottery, an open source Fair Lottery.

James writes, ‘When i finish with the urgently needed code for SuperNET in general, I will spend time to get VPNcoin properly integrated into SuperNET. ]I think the decentralized load balancers could become a pathway for the windows VPN services provided by VPNcoin’.

‘Everything started to be built on the 5th of May and was presented and demo working on the 20th of May. With all the media that is looming around it I need to close it in Greece with government or private association. We already have one assocation interested in taking drachmaeconnect as a business barter network.’ The project has potentially huge significance. ‘It’s not just about Greece. Greece is the test dummy of what will happen to Italy, Spain, Portugal… I am arguing with the EU Commission over drachmae as they don’t like the idea – this could be a solution.

Damelon writes, ‘This project, even when not viable, has generated more high level attention than 4 months of articles on things like CoinTelegraph. It gets people talking and that for me is its most important function.’

SNRN

Lottery‘Anyone holding 50 SNRN asset will be entered into the lottery for 1/2 ounce silver (starting next month… maybe this month…), 500 will be entered in to win the 1 ounce supernet coin, 5000….. will be a surprise (3-6 months away). Thank you for your support.’ Nxt asset ID: 3501237268087927815

BTCOR

BTCOR Group Investment supports SuperNET in alignment with a profit-for-change paradigm, and it’s the first NXT asset to utilize Nxt’s revolutionary Monetary System technology and Asset Exchange to generate dividends on stored wealth. BTCOR and its SERIES VENTURE wealth storage facilities allow for holding/storing value in the form of ASSETS, GOLD, SILVER, BITCOIN and the US DOLLAR.

BTCOR is the parent asset and is the simplest choice for investment. Funds received through sales of the BTCOR asset will be used to appreciate value for shareholders by investing primarily in SuperNET’s technology, core coins, and assets and by seizing any other opportunities the Executive Board may deem advantageous. Any dividends received by assets held in the BTCOR Treasury will be redistributed proportionately to BTCOR shareholders on a monthly basis.

Altnuts Mining Pool

If you want to mine SuperNET Core coins, this is a place to go. AltNuts V2 charges 0% Fees.

Coins that are accepted into the SuperNET, also known as ‘Core Coins’ represent some of the most promising innovations in blockchain technology available today. The SuperNET Multipool, brought to you by AltNuts – has been created as a way to mine currencies from within the SuperNET that aren’t traditionally minable. You can connect directly to the multipool with your ASIC or GPU miner and be paid in the SuperNET coin of your choice.

James has been in deep coding mode, resulting in a total reconstruction of the SuperNET CORE, improvement of the distributed Multigateway (MGW), and some new SuperNET tech. Meanwhile, the rest of the decentralised dev teams/coins and services in SuperNET has been busy as well. This newsletter will give you an update on James’ work, the CORE coins and services. As you can see, SuperNET progress hasn’t slowed down at all! Dive in 🙂 SuperNET Slack can be joined by sending a request to: info@supernet.org.

Topics

Syscoin joins SuperNET

SuperNET Clients

Litewallet

Litewallet review

Full client release

SN enhanced NRS release

SuperNET Android Client release

CORE code update

Agents

Lchains

MGW

InstantDEX

crypto777

SuperNET Projects

SuperNET Blog

JayEX

NxtVault

NeoDICE released

NeoDICE Jay Client

Fast withdrawals on AE

Pangea

Freemarket

Coinimal

Coinomat

SkyNET is live

SNRN

SNRN asset

JLH (jl777HODL)

SuperNET CORE coins

BTCD

BitStar

VeriCoin

Nxt

SysCoin

OPAL

Fibre

VPNcoin

SYSCOIN joins SuperNET

‘Syscoin devs are working on exposing its features via user friendly interfaces. ‘The big release for that is 1.6 (http://syscoin.org/roadmap) which introduces a new wallet that brings everything front and center. Certificates, data-store/aliases are [already] on the blockchain and working, however they don’t have a UI in the wallet yet so it is all command-based (for now). When we roll out our V2 wallet which will be much easier to build upon than QT, we will begin rolling out each feature in the wallet through continued development’, writes Sebastien.

Syscoin brings a talented and established team of developers to the SuperNET table. One of the interesting features will be their decentralised market – the Blockmarket. Its Beta GitHub repository is public, and you can set up your own Blockmarket on their testnet: https://github.com/syscoin/blockmarket.

CORE code update

James writes:

‘If you are following my github, you will see the progress everyday. I am getting more and more functionality with less and less code, this is what happens toward the end. I also had to take some time out to solve the blockchain bloat problem. Lchain (the evolution of Ramchains). Testing is going well. Then realtime MGW via decentralized load balancer. All is in the new “plugin” system, which is more like cooperative agents. The new agents’ system will let people easily become a publisher. It is quite a general solution, beyond pure crypto.’

‘I originally estimated about 6 months to complete my tech, but the extra time needed to accommodate feedback from what has become a much bigger community has made this longer.

However I doubt it will be double, as there are many who are now helping me directly. Anyway, this is pretty tricky code and I don’t want to do a bitshares and push something out before it should be.

I am well aware of the ticking clock and I am focused on getting InstantDEX out, but need MGW stable and fast first. My recent release of the fault tolerant comms relays should solve all the network connectivity and reliability issues. The modular agents’ system solves the exponential increase in complexity of the overall project. These are things I didn’t foresee and reliable decentralized networking is not as easy as it sounds.

Also the bitcoin protocol is, …., there are just no words. I just want to find the unspent balance for multisig address but to do that I have to basically reimplement most of the bitcoin code.

I pushed ramchains that allows rewiding to any block and it will recreate the exact blockchain state as of that block. I don’t know of anything else that lets you set a block number in the past and then calculate the rich list (and all available unspents). Not really a must have use case, but this ability just came for free as a result of my now having totally mastered the bitcoin blockchain.

Now I will take a little break and can push the MGW to the finish line. ‘

SuperNET Agents

SuperNET is now a BTCD plugin, or an “agent”.

James writes: ‘I run the host code inside BTCD, and SuperNET plugs into it. Then other software agents can plug into SuperNET. Each agent can broadcast locally, or globally.

The core set of agents

I split out all the major [SuperNET] components. There is a relays’ agent, a peers’ agent that deals with the broadcasting to all the peers, a coins’ agent that can talk to any gen1 coin, a database agent that does some pretty intense multilevel caching and data packing, the MGW agent, the ramchain agent, a subscriptions agent that manages subscriptions (still very early for this one). Teleport will be a comms agent, I think a chat agent [for InstantDEX] is a matter of a day’s work. I have 12 working agents now. ‘

Anybody will be able to make a SuperNET agent

‘With 100 lines of code, you can make a new agent, publish its availability to the relays, and start selling subscriptions or whatever. I have it so each agent has three sets of methods: public, normal, authenticated – so you can have methods that can be accessed by anyone, or just on local machine, or needing authentication.

The following [languages] are supported currently: C, C++, Clojure, D, Dylan, Erlang, Fortran, Go, Haskell, Haxe, Java, JavaScript (Node.js), Lua, .NET, Ocaml, Perl, PHP, PicoLisp, Python, R, Ruby, Rust. I think that is enough for allowing most anybody to make SuperNET agents. The task for an agent is to create a set of API that it implements, and it is able to use any SuperNET API that is existing already. It is a freeform JSON transport layer, so any sort of protocol can be built on top of this. By converting JSON inputs into JSON outputs, your agent will be completely connected to all the other agents. plugins.h and the plugins directory from https://github.com/jl777/btcd/tree/master/libjl777/plugins has a relatively organized set of functions.

What’s in it for the end-user?

It will be possible to make a drag and drop GUI where you can connect up the different modules and end up with a fully customized working crypto solution. Want anon? Add an anon agent. Want a blockchain? Add the blockchain agent. Want to support assets, add the asset agent. Want atomic cross chain trades? Add that agent.

What this also means is that we get dynamically loadable command sets for non-built in agents, you can automatically make a websockets interface that has a text debug HTML page too.

James writes: ‘Ramchains went a bit too far for max performance, so I made some tradeoffs to reduce resource usage, and added a lot more useful data to Lchain. Having a super high performance DB system has allowed me to accept making some DB calls for less frequent things. I added a ram cache on top of the fastest key/value store DB system, but it is more than just a cache as I have arranged the data to map to consecutive indices, so I can have a packed array that is synchronized to the HDD via DB calls at regular intervals.’

‘Lchains solves the problem of blockchain bloat. The BTC blockchain is growing exponentially, so soon people won’t be able to run it locally, but with Lchain, it will only grow linearly, so people’s HDD will keep pace. It is like a train in the movies, the one that is speeding toward the edge of the cliff but there is no bridge. Lchain is the bridge that will allow for continued use of bitcoin on people’s computers. The ledger file for BTCD at 220K blocks is 1MB – of course you still need some support files, but actually you can get the info for the support files from the relays. Still need to have archival nodes to keep a copy of the full blockchain, to be used for verification of the Lchain.’

MGW

‘The legacy MGW is running code that is 1 year old!
That is very old code and there really only has been one bug.

The problem with MGW uptime has been that all three [servers] had to be in 100% sync at all times. Now this is no longer the case, yet we still get the same redundancy, actually more.

Lchain addresses the problem of slow startup and peer validation.

The Lchain is a data provider to the MGW servers. The MGW function only needs access to the Lchain servers + up to date blockchain locally, then it queries the Lchain, verifies locally and signs, gets consensus, submits. So you can have 10 computers with Lchain to make sure 3+ are available 100% of the time. Now an Lchain server can go offline, but MGW is still running. If all the Lchains are in agreement, that is good enough for MGW to verify locally, so there are actually additional safety checks with this separation of function.

Another problem was connectivity. The MGW servers lose connection with each other once every few days and need to be kick started, and then the startup time makes it go offline for a bit. The startup time is MUCH improved, but for MGW it won’t even matter as it is the Lchain that takes time to startup. MGW startup will be pretty instant. Faster and more reliable, so this removes the need for restarting due to comms problems (assuming it is indeed more reliable) and downtime due to restarting the ramchain. Now I just have to port the existing code to use the Lchain, but most of the code isn’t needed anymore since Lchain does most everything that is needed.’

Coin confirmation time: + 10 seconds.

In other news, James also writes: ‘I got a test release out for BTC realtime MGW. ‘ It’s happening.

InstantDEX

There have been questions about when InstantDEX will finally be out of testing and available in beta, and for general use. Cryptosleuth writes: ‘there are only some small things to fix in the GUI but it is functional. Been focused on API testing, and then will need feedback on what people want changed in GUI.’

Eth writes that the website will be up shortly, but that there are too many variables in play to give an accurate answer about a launch for SuperNET’s distributed real-time trading engine, itself: ‘ “Tuesday” is the best you will get for now, but API is looking great. Also, I have been lucky enough to fiddle with the SkyNET API, I can just say that I am impressed.’ SkyNET will have an important role in InstantDEX.

Essentially, InstantDEX’s ‘punch-through’ trading will mean that it is possible to conduct a trade that spans several exchanges. InstantDEX knows about MGW coin assets being 1:1 to native crypto, and it uses this to calculate virtual prices across all exchanges. Once the communication with InstantDEX is set up, other exchanges’ liquidity are added to the InstantDEX orderbook. Perhaps you want to buy OPAL in return for NXT. Poloniex has the best OPAL <> BTC rate, and InstantDEX has the best NXT <> BTC rate. Putting the two together in the background enables users of InstantDEX to gain the best spreads across exchanges.

Crypto777

Updates will be posted in SuperNET Slack channel #crypto777
The crypto777 protocol is described in http://test.nxter.org/supernet-newsletter-16/

The purpose of crypto777 is to fully decentralize realtime backed and pegged crypto.

James writes: ‘It will have a built-in way to generate fees, via blockchain. I am working with Consensus Research who will be doing the whitepaper and modeling. These fees will be assetized and I will be issuing an asset within a few weeks. Preference will be given to purchases made via BTCD but I need to finish InstantDEX first as I will use it to create the orderbooks for the sales directly in BTCD.

‘Now the actual backed and pegged cryptos are “hard” assets, so I can’t give out dividends in those. The asset is based on the sum of all the fees from all the backed and pegged assets that will be created. There will be a price ladder so early birds get a discount, but as the whitepaper is released and the tech matures, the price will be raised at the milestones.

SuperNET projects

SuperNET Blog

eth writes: ‘We have started an official blog for SuperNET, you guys can read it in:http://supernet.org/blog. The main objective is to create a communication point where information will flow in a friendly, mostly continuous way to keep all the users, community members, investors and everyone else interested about SuperNET up to date regarding advancements in development. The blog will be limited to allow posts from the core team only, but of course if you or whoever else feel that it could be reworded to improve comprehension or in any other aspect, everyone is really welcome to do so and distribute it.

We are aware that we have not been very communicative lately regarding the progress of the different services we are developing, and that is a big mistake, since we feel some people are losing a bit of faith, mostly caused by this lack of communication. Entirely our fault, so we are here to fix it.’

JayEX

The Jay Client and Framework was released about a month ago.
Further details (and videos) can be found in SuperNET Newsletter #16.

Until recently there has only been Jay Wallet ( http://jnxt.org/wallet) to use to test Jay, and Jay can do so much more than this. Jones has now released the AE side of JayEX, allowing for ‘Nxt AE trading with the security of the localhost NRS client, the inspiration of SecureAE, and the chart ideas and layout idea from Poloniex. I’d call it officially beta now’, Jones writes.

‘My hope is that Jay Version 2 will be released around the time that Nxt 1.5 hard fork occurs, but there is much to do’. Jay v2 will support currently released SuperNET features. http://jnxt.org/nxt just has the original for now, I’ll need to check what tx types are needed for the supernet agents, jay integrated NRS with SN agents. Could work pretty easily.’

doppelganger follows up: ‘We had to change core architecture of the project, for example switch from NoSQL to relational database. We believe major bugs are sorted out, so we decided to initiate testing on the main chain. Next development target after core system is a SuperNET agent, to simplify game experience. We have there mostly UI minor bugs [which needs to be fixed], no majors, no blockers.’

Note that a transaction fee of 1 NXT goes to the network on every bet or chip swap.

Jones writes: ‘I am going to marathon a neodice-jay web client, then move on to Jay v.2 work after that. Because jay has the advantage of being online, I can add some more features, like a chat box and backend processing.’

Fast withdrawals on AE

Also James chips in: ‘I think during the testing period the withdraw times are intentionally set to be very long (720 blocks). But we can just put a buywall for fast cashout, so that people who want to convert to NXT right away can just do it from AE.

I’ve put up a buywall on AE so to redeem, just sell into the buywall.’

Pangea

‘The software developer is working according to schedule to finish the playmoney version by the end of May’, writes 5000Bitcoins. It is estimated that the real version will be live and integrated with SN 1-2 months after that.

Freemarket

New features:

Live NXT to USD/EUR conversion calculator

Instant viewing of NXT price equivalents in USD and Euros

Price equivalents’ update along with shipping options and quantity changes

Send NXT to another account directly from within FreeMarket

Buy/Sell NXT for BTC, BTCD, or LTC from within FreeMarket using ShapeShift

Menu bar notification of your pending sales if you are logged in

List multiple quantities for the same item, for the same low listing fee

You now have two durations to choose from: 2 week or 4 week duration

Image enlargement: Click on any image to zoom in. Animated GIFs are supported

Coinimal

Coinomat

‘We will be carrying out deeper integration of First Swiss card in Coinomat. The whole process will be at Coinomat, including card ordering, and card loading will be instant. We are integrating the bank API now, the bank had doubts over this, but now all is settled.

This week it should be complete. No public info for a couple of days longer, we’re rebranding it so it is completely white label. After that we will start promoting the card and pay cryptocard dividends. Sorry for the delays but it’s not really our fault indeed.’

‘Guys, if you’re in Europe I’d like to remind you that we offer very cheap crypto buying and selling options by SEPA. It’s protected against volatility. USD is credited first and then you buy coins. Coins are sold at 0% to current open market rates.’, writes Coinomat.

SkyNET

Nexern writes, ‘You can query data and indicators now.
The API is growing hourly atm and the first 100 indicator specs are ready tonight.

The current silence means I am coding heavily. Here is a quick overview on what I am working [on] atm: http://finhive.com/download/web_quicklist_indi.txt

The now designed API is input data agnostic, [which] means it acts also as a very extensive financial math/analytics gateways where users can query the whole API functions with their own time series (via json POST). This adds an additional revenue stream for users who prefer to analyse their own data.

Another good thing is that I have also finished the missing math bindings and intend to look into a R binding next weekend. This would add additional, valuable finance logic like risk management, portfolio handling, quants and many other very usable stuff to the framework but this is optional and not a must have at current stage, completing the actual API modules is paramount now.

You can see an indicators API spec (ind_sma) proto here:
http://api.finhive.com/v1.0/run.cgi?section=crypto&run=api, it includes also naming, descriptions, signaling interpretation and more, shared by the TA encyclopedia ( “sec_knowledge”: [] ) later.

Moreover, ‘last regression tests on the custom TA lib [are] successfully done. All +300 indicators returning correct and cross-checked result sets. The lib (optimized, plain C) is pretty fast and lean (185kb, nix shared with ~8k loc.) and presents an important skynet asset (simply because it is the most actual and complete TA lib on the market from my pov) besides the data collected so far. The server side LuaJIT lib binding (serving the JSON API) is also working as expected and reaches ~80% of native C speed. This speed was/is crucial and not pedantic because the API supports pre-calculated, and more important, dynamic (on request) data creation. Well, nuff said about the tech for a while’.

SNRN

SuperNET Radio icon Kevondo has left the building. Lootz writes, ‘New talent is being recruited and interviewed regularly for a new host for chillax hour. Once we hit a larger audience I have many giveaways such an SuperNET Pure silver coins to give away, so stay tuned.’

SNRN is looking for a short article writer to write reviews on the shows. Compensation paid on a per article basis. If you operate a site and would like a banner put on supernetradio.com, contact lootz. SuperNET Radio is now broadcasting its stream through all of icecast and shoutcast communities. This means that all shows are now broadcasted to a lot more people.

‘We plan on having A LOT more content coming up, so the music will not be so prominent, but at the moment – here’s what’s goin’ on. All day we have a mixed bag. Pop, rock, old, new. Hard (no screaming), Soft. It’s a decent work mix. And right now as we’re in our “transitional” period, replays of past talk shows will play around 1 PST/4 EST Mon-Fri. Every Night at 8 PST/11 EST, electronic music starts for sweet dreams. Then, Wednesdays and Fridays are Hip-Hop nights starting at 5 PST/8 EST. And finally, Sunday is a slow day, we have Trip-Hop/Downtempo starting at 9AM until Classical starts at 5PM. Also, on the weekends we have Super Security Saturday, and Coin of the Week on Sunday as well.’

‘SuperNET Radio is now open to all Core Coins and Supernet related assets. If you want to showcase, explain your tech, basically any word you want to get out it, is now open and FREE. Let’s get people to understand SuperNET and all its parts on voice packets. Contact me with details and we will make it happen. I want this to be truly SuperNET’s Radio Station, and believe this will be a good direction for our community. DM lootz.’

SNRN asset

SNRN (asset ID 3501237268087927815) will be released monthly in small portions. ‘Revenue from ads/sponsors will go to holders as dividends. Also any 1 company, technology, venture, who holds 20% will have free advertising on the station 24/7 played 12 times a day and in our shows that get many replays by multiple communities, as I keep inserting SuperNET Radio into different communities. We have 27 websites broadcasting atm, and will continue to grow’, writes lootz. So if you like what SNRN does, instead of a donation, just get some SNRN, maybe one day SNRN can say thank you with dividends.

JLH (jl777HODL)

The heavy discount at which JLH (asset ID 6932037131189568014) is trading on its NAV will shrink in due course.

As announced by James about a month ago: ‘Please don’t be surprised or complain. My goal is to lower spreads across the board, target of 1% to 2%, but it needs to be done gradually unless market conditions change. So it is a multidimensional mapping issue where all the related assets are linked via adaptive bots. The natural consequence of this will be price moving in harmonic oscillations similar to the forex currencies. I make simple arbitrages, constrained by liquidity of the other assets, but as spreads narrow across the board, liquidity will increase, allowing more arbitrages. Iterate…’

Bots will not be deployed yet, but James has now put up some small buy walls at ~10% below NAV.

James writes: ‘JLH really should be trading at some sort of premium, but the liquidity problems has made something that nearly quadrupled in NAV in less than a year and tripled in price, to somehow be a significant discount to NAV asset. In the real world, anything that is quadrupling in a year will most likely not be at any discount!

Now there is no gauging how much more stuff I will add into JLH over the next months and years, so let us set the value of that at zero. Still even with this santa claus valuation, the NAV really should be the floor, so I will make that happen with buywalls.

Over the weeks, I will gradually raise this [~10% below NAV) closer and closer to NAV. If it ever starts trading at a premium to NAV, the reverse process will be used to get it back to NAV. What this means is that JLH will end up trading around the NAV on a long term basis.

I realized it is easy to get the funds required to put up buywalls, just by selling small bits, if funds are needed. With almost half a million NXT in the acct now, it won’t be necessary to make any sales. This method is a much better use of funds than dividends or lotteries. When I get a chance I will automate it, until then it will be an occasional thing, whenever I get a chance.’

SuperNET CORE coins

BTCD

BitcoinDark development has been ongoing behind the scenes and we are now approaching a time when that development will begin to bear fruit. One of the new developments includes a new HTML-local-host Wallet GUI to replace the old QT version.

I’d like to announce that with the donation funds the community has raised so far we have been able to hire Onsightit, VRC’s GUI and Cross-Platform Developer, to help primarily with the back-end of the new BTCD HTML-localhost Wallet GUI. Getting talented developers on board is important to meeting our goals so please keep those donations coming!

Support BitcoinDark development

Send your donations to the following Official BTCD Donation Address:
RDtnnLj5LQ8YMxBJbHX1N4jNKeaC67FLGW
or you can donate BTC using the Official Multisig Donation Address:
36vQrrrjT1A8X3s56fdfkYzWzMgjSWhTWY

MMBTCD

The MMBTCD asset is live. Nxt AE asset ID: 8122396658538927693

The aim of this asset is to increase liquidity for BTCD and place gentle upward pressure on it. Coinomat has done great work with the MMNXT asset. BTCD has much lower volumes and thinner order books, so we’re taking a mutual fund as well as market-maker approach. Hopefully using revenues from other assets will inject some liquidity and give us something to work with. Coinomat has very generously donated 100,000 coinomat assets to MMBTCD.

Due to migration to new SuperNET servers, the Asset ID for the active mgwBTCD asset has changed. You can send your old mgwBTCD assets (ID 11060861818140490423) to the special redeem account NXT-6YQW-HHCG-NATW-DCHJ3. Soon you will receive the same amount of the new superBTCD (asset ID 6918149200730574743).

Bitstar has now moved from 35% a year stake reward to 25%, writes BitstarDev.

VeriCoin

VeryVeriViral writes, ‘VeriCoin’s new “Proof-of-Stake Time” protocol testing is now done. Proof-of-Stake-Time Wallet 1.6 released! You can now download the new 1.6 wallet by going to help “Check for update” or downloading at the website: http://www.vericoin.info/
-PoST will become active after block 608,000. Biggest PoS change since Nxt.’

‘Well we’re just trying to make some great tech. The funny thing is… PoST is just the foundation. I mean it’s legit and all… but we have other things coming too. We’ve realized the importance of the Anon crowd. We’re going to deliver something that is pretty cool in that regard. (It would replace our currently “centralized” VeriSend feature.)’

danosphere writes, ‘We’re working on exposing features via user friendly interfaces. The big release for that is 1.6 (http://syscoin.org/roadmap) which introduces a whole new wallet that brings everything front and center.

FIBRE

FibreLock 2.0 will soon be submitted for peer review! Once all the devs taking part have provided their feedback and the changes have been made, we will release the open source code for FibreLock 2.0. After the code has been open source for a while and audited by the community, we will release Fibre and Bitcoin wallets including the new and improved FibreLock. The source code will be available so any coin will be able to implement FibreLock.

ZeroTrust + FibreOS

ozboom writes, ‘ZeroTrust (ZT) is being audited for release (decentralized and trustless transaction mixer, never been done before), FibreOS is coming with its own device (Ubuntu derived, super hardened Linux distro for safely keeping your wallet on a USB stick) and holds incredible promise imho’. Sigwo will be the official US distributor of the FibreOS Device. All SuperNET Core coins will be available on this device, Blitz wallet will also be included.

Killakem, Fibrecoin founder, has taken the lead on Blitz (formerly known as Ocupy).
Blitz and Fibre are separate projects.

mxxxxx writes: ‘Thanks to involvement of Killakem bigger Fibre investors are enabled to receive revenues from Bitalize ventures. Fibre will have FibreNodes, Blitz will have BlitzNodes but they will share the same pool of revenues. 40% of all revenues generated by platform and services running on it will be shared amongst NodeHolders – they get 60% of it (and receive additionally fees from transactions), smaller holders of 15k of Blitz will get 40% and no fees from transactions.’

The holding requirement for running a FibreNode in the BDN Network will be 15k Fibre. This will ensure that the number of FibreNodes in the BDN does not saturate the revenue share. This model is setup for the investor, as we do not profit unless we deliver and make this a successful project’, writes Killakem. ‘We have many ideas and concepts flying around but we have implemented the same release system that Fibre uses: “Don’t mention any tech until we are 100% sure we can deliver”. It has worked really well for Fibre! Hence we have received no FUD and you would struggle to find someone with a negative view of us.’

SuperNET developer jl777 has created ramchains: a compressed, memory-mapped implementation of the blockchain that is capable of blazingly fast operations. The innovation solves a critical problem with cryptocurrencies, and opens the door to completely new applications.

The blockchain is the foundation of cryptocurrencies: the decentralised ledger technology pioneered by Bitcoin that makes trustless online money possible. Blockchains, however, have some serious problems. Because they contain all the information about every transaction ever made, they are large, unwieldy objects. Bitcoin’s blockchain runs to 28 GB and accessing these files, stored on the hard disk of users’ computers, is a slow and resource-heavy process.

By storing only the most immediately relevant information from the blockchain in memory, ramchains allow for ultra-fast, random access queries to essential blockchain information, while keeping resource usage at a minimum. This is possible because the majority of operations do not require the full blockchain.

Ramchains were developed by Nxt and SuperNET developer jl777 in response to performance issues on the Multigateway (MGW), a distributed cryptocurrency exchange built on top of the NXT platform. MGW forms a critical component of the SuperNET – the ambitious project to bring together the best technology and services that the cryptocurrency ecosystem has to offer.

‘A lot of the time consuming blockchain operations simply involve scanning the blockchain for unspent outputs,’ comments jl777. Creation of the ramchain – essentially a distillation of the most often-required information from the blockchain – is a one-time event. Once the historical blockchain has been processed, new blocks are added to the ramchain in real time.

The ultra-lightweight ramchain files can then be accessed directly, bypassing slow coin daemons entirely. Because the file is memory-mapped, query speeds are dramatically reduced. If enough memory is available, the ramchain is stored in RAM; if not, virtual memory is used.

Performance gains

Early indications are that startling performance gains are possible. For example, 220 MB of the BitcoinDark blockchain is reduced to an active memory footprint of 80 MB. ‘That is with a fully loaded ramchain and all the code, data structures and everything else… to have all that at one third the size of the raw blockchain is a fantastic result. If needed, it can shrink down to 40 MB or even less, dynamically based on system usage.’

More than the space savings, it is the speed with which ramchains function that offers the greatest advantages. ‘It is a matter of proper allocation of data according to usage,’ states jl777. ‘The CPU can gain access to the data many, many orders of magnitude faster than if it was stored on the hard drive. From the limit of about 500 RPC calls per second to bitcoind, ramchains can probably do 100,000 to 500,000 internal requests per second.’

To take the example of a resource-intensive task like calculating a rich list: ‘For BTCD it takes a few seconds to load the files, a few seconds to rescan entire blockchain and create RAM-resident data structures so any query can be made totally from RAM without any searching. Calculating the balance for all accounts and sorting a rich list could take around seconds. That is from scratch, each time.’

SuperNET will make use of this new technology, along with a series of other innovations – realtime decentralised crypto trading (InstantDEX), corporate-level privacy, marketplaces, games and other services – but Ramchains have applications far beyond this. ‘When you make the process 100 times faster, things you could never have considered suddenly become possible.’

SuperNET is an association of the most reliable blockchain technologies today, giving you access to all their innovation from one place. You can follow the innovation and get the latest updates by subscribing to the SuperNET Newsletters, and try the SuperNET beta client: http://www.supernet.org

TL;DR: the UK election is finally over, and it brought some surprises. One of the policies suggested by the Green Party raised questions about the nature and purpose of money – a conversation that cryptocurrency is well-placed to comment on.

If anyone has managed to miss it, the UK had an election recently. I’m actually writing this on polling day, which means by the time the article is live the election itself will finally be over, very likely giving way to days or weeks of horsetrading in the frantic scrabble to cobble together a stable government (or not).

It’s been a protracted and thankless election, with polls remaining stubbornly stuck firmly in the ‘hung parliament’ zone for months. So firmly, in fact, that it’s hard to grasp how a workable government could be formed. Unlike our European counterparts, from whom so many Brits want to secede, we never learned how to do coalitions. The First Past the Post system engenders a winner-takes-all mentality that means the party with the most seats doesn’t like playing nice with any junior partner (and in this case, it may well need to be partners, plural). Unfortunately, it’s also a critically important election, and not just because the outcome will decide whether we take that vote on EU membership. There’s the awkward question of whether the Scottish National Party, after a meteoric rise catalysed by a failed referendum last autumn, will end up calling the shots – holding to ransom the government of a country that is its stated objective to tear apart. Aside from those two questions of independence, there’s the standard quandary of austerity vs tax and spend; how and if we fund our sacred and cash-strapped National Health Service; and whether a nuclear deterrent is worth the £100 billion investment when a rising number of people rely on food banks to get them through the week, to name a few.

It’s more complicated still because the political landscape has splintered over the past five years, since voters returned no overall winner and we ended up with our first full coalition in living memory – a dysfunctional marriage that held together only for the sake of the children (and the Fixed Term Parliament Act, which effectively served as a cast-iron pre-nup). Ten years ago we could be practically assured that one party would govern with a majority. Today a majority is less likely than ever before, and instead of two main parties and the odd interloper we have two parties with dwindling support and half a dozen others shored up by protest votes.

For the Common Good

The Greens are one of the minor parties that has enjoyed a resurgence in popularity due to vanishing confidence in the bigger players. At the time of writing they have only one MP and it’s likely to stay that way; their support is spread too evenly across the country to achieve the concentrations of votes needed to win in a constituency under the First Past the Post system. But party membership has risen sharply in recent months, and they are enjoying greater prominence on the national stage. Their slogan is ‘For the Common Good’ – a phrase that will sound familiar to anyone who has encountered Catholic Social Teaching. (For what it’s worth, it’s unlikely to have come directly and unadulterated from that source, since the Greens are far more liberal on matters like abortion to want to make that religious association.) It’s something that they Greens take seriously, along with their emphasis on the environment, in that they propose some fairly radical policies to level the playing field and reduce inequality.

Whilst the economy has featured big in this election, there was an intriguing note tucked away in the Greens’ manifesto that touched on something none of the other parties had mentioned: how money is created. The section Regaining control of our money reads:

One of the most fundamental tasks of government is maintenance of the currency. Without stable money accepted by all we can’t buy and sell things or plan for the future. Inflation in particular makes it hard to take the long-term view that the environmental crisis demands.

Most people believe that our money is currently created by the nationalised Bank of England. It isn’t. A pound in your bank account is no more than a promise by the bank to pay you that pound; you don’t actually own any publicly created money. In fact, commercial banks create new money (in the sense of money in bank accounts) whenever they make loans, and that money disappears when the loan is paid back.

The fact that the size of our money supply – the total amount of money in circulation – is dependent upon millions of separate commercial lending decisions by banks makes it hard to maintain economic stability. During the great recession of the past few years, the unwillingness of banks to make new loans and the desire of people to pay down their debts has meant that the money supply has shrunk, and the government has had to resort to the emergency policy of printing money (called ‘quantitative easing’) to prevent an even worse slump.

We believe that the time has come to recognise that the creation of currency and the control of the money supply is far too important to be left to profit-seeking private sector banks and should be brought back under the democratic control of the state. Quantitative easing was but a first step. Commercial banks should be no more than the custodians of publicly created money in current accounts, and the creation of that money should become the function of a new monetary authority, independent of day-to-day government control. This policy would protect ordinary bank accounts, and

allow banks to fail safely

separate ordinary and investment business

provide some control on overall lending and debt

This would be a massive and complex change to our banking system, with many ramifications, and its implementation, involving many years of consultation, legislation and the creation of transitional arrangements, would not be appropriate for one Parliament. But we would take the first steps of preparing detailed proposals and consulting upon them, and Green MPs will press this issue in the next Parliament.

It’s a bold and bizarre policy. Nothing like it appears in any other manifesto. It’s worth taking a closer look at some of the ideas and assumptions that lie behind it, because the same background – albeit with different conclusions – underpins the cryptocurrency ecosystem.

Central banking?

Firstly, like central banks all over the world, The Bank of England (the UK’s central bank) doesn’t quite play the role that people imagine it does. The Bank of England is responsible for the creation of physical cash – coins and notes – but this represents just a small amount of the total money circulating in the economy. The rest is bank deposits, which are simply numbers on private-sector banks’ electronic balance sheets. The Bank of England is not responsible for these. The other kind of money it creates is central bank deposits, which are a kind of special IOUs used to move money around within the banking system. Individuals and non-bank firms only use cash and commercial bank money, rather than these dedicated IOUs. The idea behind Quantitative Easing was to free up money for the real economy (to stimulate activity) by the Bank of England creating central bank deposits and using them to buy up bonds from pension funds and insurance companies. The bonds move to the Bank of England from the pension fund; the pension fund’s bank is credited with the central bank deposits and the pension fund’s account is credited with ‘regular’ money, which can then be lent out to other customers. This process is explained in a Bank of England document about Quantitative Easing, as well as on the Positive Money website (well worth a read).

However, it is private-sector banks, not the nationalised Bank of England, that creates the vast majority of money in the economy (that is, everything excluding physical coins and notes). It’s hard to be certain of the proportion, not least because the definition of ‘money’ itself isn’t clear. One reasonable estimate, though, is that regular banks bring into being something like 97% of money. They do it by lending. When a bank grants a mortgage or another kind of loan, it simply creates an entry in its books and lends that money into existence. The customer accepts it, uses it and, in most cases, pays it back with interest. When that happens, the created money in the bank’s ledgers is gradually cancelled out. In a strong economy, there are few limits on the number and size of loans a bank can grant, since it all gets paid back fairly reliably.

The result is money creation on a vast scale, which has almost nothing to do with the Bank of England or with the amount of money held in reserve by banks. ‘Fractional reserve banking’ (to be explored in more detail in a forthcoming series of articles to be published on nxter.org about the fiat monetary crisis and its possible solutions), means different things according to which school of banking theory you subscribe to but what seems reasonably clear in practice is that banks lend first and then seek to regularise their reserves’ positions afterwards. It’s only when, following a financial crisis or economic downturn, a critical mass of loans can’t be paid back that the problems of largely unconstrained bank lending become apparent. When there’s uncertainty about repayment, banks become wary about lending and there is (as there was) a credit crunch. Thus central banks stepped in to provide liquidity in one way or another – lowering interest rates, buying up bad debt and, ultimately, quantitative easing.

The Greens propose that private-sector banks, driven by profit motives and subject to moral hazard, should not be left to provide the vital function of money creation. Instead, this should be entrusted to a state body, at arms’ length from the government, that would be able to take a more circumspect view of the process – perhaps acting a little like people inaccurately assume central banks do at the moment.

In other words, the Green party currently sees the process of money creation as dangerously distributed – the responsibility of ordinary, profit-driven banks – and seeks to centralise it for the common good. These ordinary banks would then simply become ‘custodians’ of centrally-created money – once again, what most of us always assumed they were in the first place.

Subsidiarity

The proposal is an intriguing one, not least because it raises questions about the nature of money, who really controls it and what purpose it is meant to serve. But it’s also raises an interesting political question. The Greens are not known for their love of centralisation. Take this paragraph from page 68 of their manifesto:

All countries deserve a voice in global decision-making, and we want to use ours to support… A fundamental restructuring of our global economy, with power held at the local and regional level and only passed upwards when international cooperation is necessary. We call this ‘subsidiarity’ – this principle is the basis of our approach to the European Union and other international organisations.

Subsidiarity is, like the Common Good, another term that will immediately be familiar to those with a knowledge of Catholic Social Teaching, in which it is explored in some depth. It can be summarised as appropriate (de)centralisation. No group is given a task that might better be performed by a lower – more local, more devolved – group. The reason for this is that centralising power away from local groups entails taking decisions on their behalf, rather than involving them in the decision-making process. It reduces their agency and participation in the matters that affect them the most. Unnecessarily centralised power is, at best, inefficient and neglectful; at worst, it is abusive and coercive.

There are, of course, activities that must be undertaken by a centralised authority, because such a concentration of power represents the best organisation for the task. National defence and dealing with organised crime are obvious examples – and legitimate purposes of a state or super-state organisation such as the EU. But subsidiarity holds that no organisation should seek to intervene if the activity can more effectively be carried out by a lower body.

The $64,000 question is, where on that spectrum of centralisation should the creation of money lie?

The purpose of money

It’s likely that there can never be a universally satisfactory answer to that question, not least because it may be one of ideology as much as practicalities. But it seems that Subsidiarity and the Common Good may point to a solution that is far less centralised than the Green party propose.

Consider the purposes that money is supposed to serve. It is typically held to involve at least three basic functions:

A medium of exchange

A store of value

A unit of account (measure of value)

There are other properties that are desirable, such as fungibility (capable of mutual substitution – one dollar is the same as another dollar), divisibility and resistance to counterfeit, but these simply enable the chief functions.

Cryptocurrencies are excellent at the first function, and currently notoriously poor at the second and third, due to their volatility. In ancient times, money took the form of precious metal – typically pieces of gold or silver of agreed weight. As time went on, these were forged into standardised coins. Its basis in precious metals meant that money could not simply be created into existence, like fiat money (an apt term; in the Vulgate, the Latin translation of the Bible, God creates day and night with the words fiat lux, ‘let there be light’). These tokens were traded directly between people in return for goods and services – the original peer-to-peer money, free from centralised control. It was possible to charge interest, and people did. What was not possible was the creation from nothing of large amounts of money, on which interest could be demanded. Money was tangible. It could not simply be conjured from nothing, whether by an individual or a commercial enterprise or a state.

This is a far cry from what money has become to us. Money is still a medium of exchange, a store of value (imperfect, due to inflation) and a unit of account. But its centralisation and ease of creation has turned it into something else as well. It no longer serves these purposes alone. The control over the money supply represented by the money-creating loans of private-sector banks means that money is also – inherently – an instrument of inequality. Its purpose is not confined to transferring, storing and measuring value.

Firstly, it intrinsically requires a flow of wealth from borrower to lender. The justice of a debt and interest-based economy is a separate question, but the scale of that flow of wealth is leveraged by the banks, who effectively have no limits on the amount of money they can will into existence. Secondly, there is an inequality in who can create money. It is a function left to the banks alone – most of which operate for profit and to reward their shareholders rather than for the Common Good.

That ownership over money creation underpins our economy. Such a free market for money – easily available credit – is fundamental to capitalism, but the result of the tacit decision to push money creation onto the private sector is not capitalism as we would typically understand it. The ‘too big to fail’ problem that arises means that the system rewards the money creators in good times but pushes the cost of their failure onto a third party – the government/taxpayer – when things go wrong. This is extortion, not capitalism, and allowing banks to fail is a critical part of a healthy system.

The Greens’ solution to this issue is to centralise money creation and control in a single state body, removing that ability from private-sector banks. Cryptocurrencies take a radically different approach.

Algorithmic money creation

No cryptocurrency operates like either a central or private-sector bank, taking unilateral decisions about the amount of money that will be created at any given time. Instead, the money supply is rigidly governed by mathematics. A coin may be permanently inflationary (like Dogecoin or Peercoin), inflationary for an initial phase (like bitcoin), static in supply (like Nxt), or arguably deflationary (like Nxt or bitcoin in the long term, since some coins will be lost or sent to inaccessible addresses). But the supply is always predictable and, so long as the protocol functions as it should, beyond intervention.

Whilst the supply is ‘centralised’ in the code and the intention of the developer, control of that money is anything but. It is a network-wide activity. In bitcoin and other proof-of-work systems, control is given to miners, who may or may not hold coins. In Nxt and proof-of-stake currencies, everyone with a working balance controls the network. Distribution may be skewed, as it is with any currency (including the US dollar – the 80:20 rule), but control over money is not subject to absolute centralisation or a single point of failure.

If the purpose of money is to act as a medium of exchange (amongst other things), the principle of subsidiarity suggests that it makes sense to place control over that function in the hands of those who have the greatest interest in its effective functioning. Centralisation moves that function away from people who want to make ordinary transactions – exchanging goods and services for money – and risks introducing new functions that do not serve those ends. It is interesting that the Greens note in their manifesto:

The change to the new system would create a new and substantial cash flow for the government, which could be spent on social and environmental priorities and assist in paying down the national debt.

This statement is not explained further, but it must, at the very least, raise a few eyebrows.

Conclusion

Crypto has a few major stumbling blocks. One is its volatility, which puts off new entrants – why put your money in something that could lose 10 percent of its value overnight? On a more theoretical level, the automation of money creation is another problem. There is no centralised body to make decisions about the money supply, but instead it is fixed. Is this the best way to go about addressing the problems that led to the financial crisis? Maybe, maybe not. We’re only just starting this grand experiment into the meaning and function of money.

Finding a way to stabilise the value of cryptocurrency will go a long way to addressing its current shortcomings – allowing it to be used as a unit of account and store of value, as well as a means of exchange. There are various proposals for how to go about this, though none have been properly implemented and tested. The holy grail is a currency that is both backed by real-world assets and pegged to the value of a real-world currency, but that is also decentralised. This apparently impossible task is being explored by SuperNET developer James Lee, who hopes to create such a stable cryptocurrency – enabling crypto to be used by anyone without fear of it losing its value.

James’ ‘shorting the box’ solution involving BTCD sidechains should help to protect the participating cryptocurrencies from changes in value caused by speculators trying to manipulate the currency markets artificially. There remains the question of whether it is desirable for more of a currency to be created (or destroyed) in response to broader economic events – and if so, how this should be decided? This is where subsidiarity may again become relevant. Perhaps that decision should taken at a higher level, if not the highest. A truly decentralised approach would devolve responsibility for inflation/deflation right down to the level of miners/stakers – the users and custodians of the currency – but what would the likely result be? History suggests a tragedy of the commons, as individuals look after their own interests to the detriment of the ecosystem as a whole, thereby ultimately negatively impacting themselves.

A Tragedy of the Commons: a fitting summary of both the question of monetary policy and the UK’s election.

Update: Exit polls are out and the indication is so different to the pollsters’ predictions as to be almost unbelievable. Conservative 316, Labour 236, SNP 58, Lib Dem 10, Green 2, UKIP 2. If accurate, it looks like the outcome will be a good deal less messy than expected by just about every single poll in the last 4 months.

Update #2: Unbelievably, even the exit polls underestimated the scale of the victory, as the Conservative Party surged to a surprise win with a borderline majority.

Syscoin is a scryptmined 2nd generation PoW altcoin, launched on August 16 2014.
Syscoin brings a proven and dedicated dev team, as well as innovative features such as:

Aliases

Syscoin aliases let you replace your coin address with an easy to remember string of characters. Aliases have an expiration date of about a month, after which they must be renewed. Syscoin “data aliases” let you use syscoin’s blockchain as a distributed datastore to store up to 250kb of content which is provably owned and controlled by you. You can also send your data aliases to others on the Syscoin network, thereby making clearly auditable transfers of control of digital data.

Certificate issuance

Syscoin’s certificate issuance service will allow anyone to become a uniquely identifiable certificate issuer and send uniquely identifiable digital certificates to anyone on the syscoin network. Since the issuance and transfer of certificates, titles, invoices, and receipts is foundational to the operation of business and commerce, the business use cases are numerous.

Decentralized Marketplace

Sebastien (Syscoin marketing) writes:

The marketplace is on the blockchain, the wallet allows you to enter purchase via the web UI (called the blockmarket). You go to the website, click purchase, enter details and then it opens your wallet, puts the GUID in directly, you pay and the transaction is done directly on the blockchain.

The blockmarket code will be public so anyone can build upon that to create their own marketplace fairly easily (will get easier and easier with community involvement). It’s all on testnet right now so once we release the code we will give detailed docs on how to set up the blockmarket/make offers, etc. So people will be able to test it and thereby helping to get it ready for public release on the Syscoin mainnet.

Block reward: 1024 SysCoin and regenerated network services fees (block reward halves every 131.4k blocks for a total of 10 times, whereupon rewards will then consist exclusively of SysCoin service and network fees).

Multipool protection: SysCoin uses KGW to retarget difficulty every block. SysCoin uses extremely small minimum and maximum values as algorithmic inputs, which effectively allows Syscoin’s difficulty to re-target much more rapidly and accurately than other cryptocurrencies that use KGW.

Learn more about Syscoin and the SuperNET partnership:
SuperNET Radio interview with the Syscoin developers @ http://supernetradio.com

What is the N&S BBQ Festival?

The BBQ Festival is a special event being planned for the Nxt and SuperNET communities. Its success will depend not just on the number of people attending but also on its potential to create new opportunities for Nxt and SuperNET. The event program is still being finalised. For the moment, the important news is:

The Festival will take place in Neuchâtel, Switzerland from Thursday 30 July to Sunday 2 August. 30th and 31st July are business days; 1st and 2nd August are community days.

Inexpensive accommodation (29th July-3rd August), to include all meals, will be provided.

The big Barbecue Party will be held in the evening of Saturday, 1st August.

The event program will follow the 4 big goals of the BBQ Festival (see below).

We are currently organising a crowdfunding campaign to determine the level of interest in the community and therefore the likely size of the event.

Please note: the event will be open to Bitcoin and other crypto communities/ventures. Especially the business days. But, as the Festival’s name suggests, the main focus will be on Nxt and SuperNET.

What are the goals of the BBQ Festival?

Some fun for the community

First and foremost it’s all about having fun. Barbecue = Conviviality! and Conviviality, as we all know, needs Beer! This is Summer, we are on the lake side, let’s have some fun.

The most fun-filled part of the weekend (at least officially!) will be Saturday night (1st August). It’s not only the Nxt special BBQ, it’s also the national day of Switzerland: so, get ready to enjoy a free Fireworks’ Display onLake Neuchâtel.

Visibility in the Swiss Economy and Social/Print Medias

Over the course of the Festival, I’ll be trying to gain as much exposure in Switzerland as possible for Nxt and SuperNET, especially on the Thursday and Friday (30/31 July) including: a press conference, a public presentation in the University and a meeting with Swiss businesses (all currently work in progress).

I’m already in contact with some local organisations to organize something cool. But there will need to be more than just 5 people attending the event for it to be credible.

Building the Nxt ecosystem and developing the tools

During the community days (Saturday/Sunday, 1/2 August) we will have fun/drinks/meat/vegetarian food but we’ll also be building Nxt as well. To that end, I’ll be organizing some workshops and also some lighter-hearted mini events, including a ‘hackathon’.

If you want to organise something in connection with the Event involving the use of Nxt and/or SuperNET features, please contact me as soon as possible.

Using the Nxt and SuperNET features

The Event itself is an IRL showcase for the Nxt features. We want to integrate as many Nxt and SuperNET features as possible in the Event’s organisation:

MSCoin (for the payment)

Asset

Marketplace

Voting system

Using SuperNET and the Multigateway, you can pay with any of the SN core currencies.

Who am I?

I’m Lionel Jeannerat, I live in Neuchâtel and I’m a freelance entrepreneur (http://www.valeurdhistoire.ch/). I’m known as Ludom in the Nxt and SuperNET community.

I’ve been involved in the Nxt community since December 2013 and I’m an early investor in SuperNET. My reputation is good and I’m a respected member in the French community. I’m also the administrator of the NXTER.ORG magazine.

I have some experience in event organisation: Festivals and Fiestas (Ludesco, Erasmus Students Network, etc.).

What is this crowdfunding campaign?

Participation and timing

The crowdfunding campaign begins 16th April and ends 6th May.

To subscribe:

Buy “Rewards” (as in Kickstarter) at our shop on Nxt Marketplace.

Send a bank wire (SEPA) to one or other of our two bank accounts, as detailed below (together with a message stating which category of rewards you’re buying – see below – and specifying the Nxt address to receive the BBQCH and/or Assets).

Please note: those who support us by very generously buying a VIP token will get a Surprise Extra Benefit during the festival.

TBH, it’s still a surprise to us as well as we don’t yet have any ideas what it should be; so, by investing in a VIP token you’ll effectively be challenging us to come up with something extra special for you!

IMPORTANT: Our estimates of the reward values are just that: estimates. The value of the little/medium/superNXTERs rewards are purely the corresponding amounts of BBQCH specified above, nothing else.

If the accommodation is more expensive than our estimates, you will have to pay the difference, but if it’s cheaper you’ll save some BBQCH for the weekend drinks. Wooooh!!!

First goal

The first goal of the crowdfunding is to reach the equivalent of 3000 CHF (~300’000 NXT). It is the equivalent of 10 people attending the event for 2 days.

If we don’t reach the first goal, we’ll cancel the BBQ Festival and instead I’ll organise a simple BBQ in my garden as I did last year.

Stretch goals

The BBQ Festival itself is just one of our crowdfunding goals: we also want to finance new Open Source tools for the Nxt community (useful of course for the BBQ Festival but also for other Nxt Ventures and events). These further goals are:

Can I be a special partner or support the Event in any other way?

We are interested in any joint venture proposals. Let’s help each other!

Let me know if you can personally help organise/run the event or if you’d like to invest or get involved in a joint venture of any kind involving the event.

The organisation begins and everything is still up for discussion.

Contact me ludom@test.nxter.org or on SuperNET slack.

So, what exactly are BBQCH and PVHevents?

Monetary system coin: BBQCH

The BBQCH is the currency of the Festival. You can use it as a coin.

The type of the MScoin is exchangeable and it doesn’t have any decimal places.

During the BBQ festival, you can use it to pay for:

Registration fees for the event

Accommodation

Food

Drinks

And more…

The value of BBQCH is backed by Swiss Francs (CHF).

10 BBQCH = 1 CHF

Asset: PVHevents

The PVHevents assets will be part of the “BBQ Festival” venture. After the festival, the benefit will be distributed to the assetholders.

The asset ID is 16374615450544227361

You can buy this asset during the crowdfunding campaign by becoming one of the 20 Supporter-Investors. A further 3 tranches of 1,000 PVHevents assets will be made available, at the same price of 7.5 CHF/asset, for those specified below to buy privately.

IMPORTANT:The goal of the BBQ Festival is not to make a big profit. It could even make a loss. So, if you invest in PVHevents treat it, in effect, as making a “donation”, and regard any profit as being a “nice surprise”.

Price 7.5 CHF/asset:

Price 10 CHF/asset:

5000 reserve for more Investment if needed.

Who decides?

The organisers of the event (Ludom and maybe other people too) will be responsible for everything to do with its organisation.

But it’s possible that that some decisions can be taken by the community (choosing music groups, collective accommodation solutions, drinks). As appropriate, we’ll organise a decentralized vote on Nxt based on the MScoin BBQCH.

The PVHevents assetholders will decide after the BBQ Festival if we should distribute all the funds (Bank account and Nxt account) or if we should hold some funds back in reserve to fund a new event.

Can I be scammed?

Transparency is a big part of the project. We’ll publish the bookkeeping based on the Bank account and the Nxt account.

If the project fails and the BBQ Festival therefore doesn’t happen, I’ll repay everybody as follows:

Pay back the VIP buyers in full;

Buy back the BBQCH at a fix price (average of the selling price)

Refund the PVHevents assetholders as much as I can.

How can we be contacted?

You can contact us by email (ludom@test.nxter.org) or on the Nxtforum topic.

In addition to its unique set of features, Opal announced today a revolutionary system of dividends simply for holding the coin.

Opal today announced a system of revenue generating sites, the first one being bitsofnews.net, that will have all revenue generated go back to Opal users through dividend payments. This serves as both an incentive for users to hold Opal, as well as holding them in their local wallets and cold storage.

Opal believes that this will help create incentives for users to try out the coin, and will also encour- age long term holding, because in addition to staking intrest, there will be a steady flow of revenue generating sites.

Opal is structured on a no premine, no ICO, no IPO basis, all funding and expenses are covered by the development team. It is because of this approach the team believes they can take Opal to the pinnacle of innovation. They firmly believe in customer and investor feedback and welcome this to further cement Opal’s position in real world adoption.

As always, lots of exciting news to tell you about. InstantDEX is nearing beta launch, and James has not only been debugging but also beefing up SuperNET security and developing his Ramchain-coin idea further. SkyNET will soon be ready, filesharing has been added to the SuperNET Client, an asset dividend has been released, and more are in the pipeline.

InstantDEX beta

Testing and debugging is ongoing. 99% API is done. James pushed a version today that passed his internal tests for everything except combined orderbooks. Latest version supports hybrid trade clearing, and assuming this works, then automatch is the only major feature left still to do, along with historical stats.

eth and cryptosleuth are working on a GUI for the decentralized exchange:

Jay v.1

Jay lite client and framework has been released.

A downloadable html file handles your security, encrypts all password data locally and acts as a buffer between your computer and potentially unsafe web services. This way you can use all features safely and easily.

Jones writes:

It can do all Nxt transaction types, and after v.2 all SuperNET transactions.

Jay client v.1

The Client is based on the Jay Framework:

Jay Framework

The jay.js library provides all the basic functions required to create applications that interface with Nxt and the Jay Client. Basic Javascript is now all that you need to be a wallet developer!

James writes: ‘Jay will generate revenues via deals similar to the one it made with InstantDEX, eg. a percentage share of the fees generated. 20% of InstantDEX fees will be around 1 NXT per trade (if both sides use Jay). The initial release does not support InstantDEX yet, so revenues will have to wait until then. I would assume a significant amount of the revenues will be dividended out as the Jay framework has no direct server infrastructure costs.‘

It was announced in the last SuperNET Newsletter, that the Jay dividend would be released when less than 8,161 SuperNET assets were left in BTER. However, the trigger was not met before Jay got launched, and as James wrote: ‘if Jay is actually in production, then we can make asset release, but then no complaints about dividends that would get stuck in BTER.’ !

MGW asset update

James writes: ‘MGW will get at least the 5% revshare from InstantDEX, so this makes its cashflow value at least 10% of InstantDEX. It will also be able to make some fees from deposit/withdraw/autoconversions, but until we are in the slow user growth phase, it is best to keep fees minimal to maximize the userbase.

MGW [asset ID 10524562908394749924] has some server costs to pay for, but it should trade probably ~8% of InstantDEX. As volumes go up, the 8% will approach 10% since the operating costs will become a smaller and smaller percentage.’

MyNxt releases MGW plugin

The plugin is free to install and enables users to easily tap into the power of the SuperNET MGW Distributed Exchange through the MyNxt webwallet. This will make it possible to exchange Multigateway coins, like NXT for Bitcoins, with simplicity and minimum risk.

MyNXT does not store any coins but uses the MGW service to convert them to mgwCoins as well as send them to your desired destination.

Fumanchu (SNN) writes: We are waiting until Summer to move out of soft launch, so don’t expect much from SNN until then. Currently I’m pitching the platform to established publishers to link in or provide resources for the network. So the front end seems dormant but things are actually cooking behind the scenes.’

I believe I improved on BCNext’s TF, at least I have a method to practically do thousands of tx per block, with a very fast blocktime, but this is still “theoretical”. Once the older projects go into maintenance mode, I will have time to experiment.

I put together a little proof of concept ramchain coin, [which] uses authenticated nonces, two stage encryption (arithmetic coder + OTP) and blocktimes fast enough for poker. This is also the same method I will [use to] enhance the security level for the SuperNET, but it’s nice to have an entire coin codebase that I wrote (with plenty of advices from CfB) in ~1500 lines of C.

The crypto777 “coin” (I think I will name it CLOCK as the blocks come out like clockwork) is a framework to add a decentralized consensus onto anything, eg. Pangea chips, but I am also investigating BTCD sidechains as it makes no sense to release yet another coin when you can enhance an existing one.

CLOCK supports the concept of a ledger, which is simply a balance tied to an account and there are transactions that modify the ledger. I use 48 byte signature and 32 bytes for simple tx, but all the tx handling I would prefer to be totally abstracted away from CLOCK itself. (…) So a node would subscribe to a tx stream type X, Y and Z and only have to deal with them and if a tx type B is having a problem, it would just mess up ledger B, while all the other ledgers just keep on going. So like a blockchain OS, you can run multiple “processes” but just one consensus chain.

My breakthrough idea is to overlap the time variable consensus generation with the actual blockchain data, since the consensus is only about which nodes are to become generators (no tx data at all), there is little room for disagreement, forks, etc. and this chain builds very fast. <2 seconds in my localhost test network of 128 threads. I have a logN network topology, so add 6 hops at worst case 500 milliseconds each hop still gets us to 5 second blocktimes for the consensus chain. Now we have a consensus chain growing once per 5 seconds and that means the data chains can be any time above this and it will be like a CLOCK.

With the line count being so low, it becomes feasible to get a full code review for any and all flaws. If I can totally abstract out the blockdata semantics, then it will be a framework for any sort of data consensus, in realtime, that a subset of nodes can maintain.

Instant backed and pegged fiat crypto transactions?

Since the codebase is so small and I fully understand it, I can start to solve the more difficult issues, like a backed and pegged fiat crypto, realtime ledger consensus, hmm actually I think those are the only two unsolved things left.

I will announce more specifics after I get a test version of a more useful system working.

SuperNET related projects

SuperNET Tees

lionelpreacherbot has made a limited quantity of SuperNET T-Shirts. The price is 1400 NXT. Global shipping available, please see listing for details. Go to Store ID NXT-QW8T-M25B-7WN3-EXNMA or simply search: Tshirts, SuperNET, or Clothing in the Nxt Marketplace and click the listing with the size of your choice.

ATOMIC

‘ATOMIC is a DAC, the asset holders actually “own” the company. So lets say that ATOMIC makes a profit of $100 during the monthly period and you own 25% of atomic assets. You would get $25 of the $100 as a 25% owner of the DAC. The profit is coming from minimal exchange and ledger recording fees. I believe it was jl777 who said that we will keep the fees pretty low in the early stages to attract more users but you’re still getting your cut of the profits dependent directly on how much of the DAC you own.’, writes Cryptaxe. Asset ID 11694807213441909013.

Coinomat

BTCD has been integrated into the exchange. You can exchange it to other crypto as well as to fiat, inlcuding withdrawals to any Visa/Master card and bank transfer. All crypto exchanges are instant.

Coinomat has enabled interest-bearing accounts at Coinomat.com. If you maintain a balance of 10 USD (/EUR) and above you are credited with a daily interest of 0.06% (currently). The interest is credited every day.

If you are a CoinoUSD holder you are eligible for interest payments, without even depositing your CoinoUSD at your account. In order to connect your NXT account with your Conomat.com account for receiving CoinoUSD interest you need to log in at Coinomat.com using token authorization in your NXT client. After that the interest is credited to your Coinomat.com account as long as you keep CoinoUSD in your NXT or Coinomat.com account. 1 CoinoUSD = 1 USD.

Freemarket

blackyblack has updated the site to include ratings and feedback of sellers. This, for now, is a centralized solution and ratings are isolated from other Freemarket nodes. Full decentralized ratings is an issue the FM team is working on.

Pangea

SuperNET Radio Network (SNRN)

“Security Saturdays” @ 2 PM EST has been launched. It’s an hour long show with a different topic every week aimed at educating people on the subject technology. The April 11th Subject is “BTCD & Teleport”. Lootz and Colin12 are the commentators.

SNRN has two other shows in the final stages of development and strategies timed to become active with the the public release of SuperNet.

Coins functionality in SuperNET

The SuperNET CORE coins have been chosen with great care for their dev teams and unique tech but not all CORE coin features will be implemented in the SuperNET wallet – only chosen features.
James explains:

Supernet is not a coin, so any coins afraid it will take over is a bit like facebook worried the internet will take it over. The internet has website A, B, C, … the combination of all the websites, is the internet. Now a specific website F, it is part of the entire internet, but it is its own website. The presence of other websites doesnt detract from it.

It is not a zero sum thing at all. It is possible for a new participant to gain, while all the pre-existing participants also gain. This is due to the value of networks being proprotional to N*N. The bigger the network the more each addition boosts everyone else and the more the new participant gets, like a snowball rolling down the mountain. And supernet is not just the coins, not just the software, not just the investments, not just all the asset projects, just like the internet isnt just Facebook. What can you do with the internet? What can you do with SuperNET?

BTC, fiat and all SuperNET CORE coins can be easily transferred in and out of the SuperNET Client, be traded with ease in the in-wallet decentralized exchange (InstantDEX, in beta), because without OPAL, you will not get access to OpalDrive, without FIBRE, you don’t get the chosen FIBRE features, etc.

The features being developed by some of the CORE coins for the SuperNET GUI functionality are currently as follows:

Opal – Opal Drive p2p filesharing

BTCD – Anonymity-related functionality

Bitstar – Further development of their in-wallet localbitcoins-like p2p trading platform

SuperNET CORE coins news

Fibre

FibreOS 2.0 will be presented with a device that you can connect anything you want to and it will give additional options for the more advanced users – supernet wallet, core coins wallets and some additional features from itself. It will present the great supernet tech and supernet core coins tech, and enable people to use one solution for everything they need, everywhere. With all SuperNET features like InstantDEX exchange etc, Fibre wallet, SuperNET wallet, Opal wallet, Vrc wallet etc, you will just turn on what you need, and you can install more software additionally, if you need it.

Opal

Opal Drive alpha released‘Opal Drive is the ultimate file sharing platform: Decentralized, easy, simple, quick. Opal Drive is a fork of Syncthing, and we’re building Opal integrations that will possibly even be pulled upstream.‘, writes bassguitarman.

OpalDrive can be accessed from Opal Wallet and the SuperNET Client.

‘Opal is in the process of hiring a go developer for this project, and needs support to help afford the work to make Opal Drive the best file transfer system out there. If you want to help, you can donate via lighthouse, and you will be forever appreciated for helping Opal develop. If you don’t want to donate, we still love you.’

In their simplest forms, Bitcoin, and other cryptocurrencies, are essentially just different forms of money. The purchasing power of these coins is determined solely by how much a purchaser is willing to pay for them, using his/her local currency. A large majority of bitcoin vendors have a dollar value next to the bitcoin price, and even those who only accept bitcoin fluctuate their prices based off of the current exchange rates.

But what if Bitcoins, Dogecoins, Litecoins, and every other coin out there was more than just a set of numbers with an attached dollar value? Colored Coins may very well be the solution. The concept is straightforward. With Colored Coins, users can “color” their coins, giving them a label, an additional set of information. With these labels, coins can be attached to commodities, assets, stocks, and more. Beyond numbers and electricity, Bitcoin and other altcoins can be backed by a real life value using Colored Coins.

Coins that have been colored effectively become tokens. These tokens can be recognized by various parties as representations of stocks, bonds, houses, and just about anything else. By exchanging these tokens, both parties can bypass the regulations, taxes, and restrictions that would normally hinder the trade of the assets they represent.

Colored Coins has launched with bitcoin recently, but has yet to receive major usage. Some altcoin developers have declined integrating the system into their currencies, but many others have considered the implementation. Most notably, Opalcoin has taken measures to apply Colored Coins to their cryptocurrency, and they plan on releasing the system shortly.

Opalcoin, launched in September of 2014, is a cryptocurrency known for its anonymity, or the “opacity” as it is commonly referred to. Anonymity is one of the core values that coin was founded upon, and unique features such as encrypted messaging and opaque addresses give users the tools to maintain their anonymity.

Another goal the developers had early on was to implement a market place free of taxation for the coin. A commodity exchange, where users trade goods and services, rather than money, was one of the first visions for the coin. There is hope that Colored Coins may be the solution to create this system. With Colored Coins, Opalcoin users will be given the tools necessary for anonymously trading gold, bonds, stocks, and anything else via colored Opalcoins.

Colored Coins is a revolutionary system in the cryptocurrency world. One of the major criticisms to altcoins is that they lack any real value outside of what people are willing to pay for them. Colored coins dispels this criticism by giving users the ability to bind their coins to assets. Opalcoin might just be the start Colored Coins needs to gain widespread adoption.

As ever, life moves fast in crypto, and never more so than in the SuperVerse. The main news is that InstantDEX is approaching launch, another dividend is about to be distributed, we have a SuperNET v1 beta LiteWallet, but that’s not all, there’s plenty more still to tell you about – including a new addition to the CORE coins list: FIBRE.

MGW

SuperCoins ID

As part of the ongoing evolution of the Multigateway to become a key part of SuperNET, coin token names have been updated, as have asset IDs.

‘Note that all the assets delivered by SuperNET v1b (and found in the new SN wallet dashboard) follow different naming.’, writes VanBreuk. ‘The SuperNET MGW uses new assets. mgwBTCD has become superBTCD. And although James said iDEX could handle old and new assets as equivalent, we’ll be offering an asset swap for anyone who wants to update assets soon.’

And Longzai advises us that: ‘When we decide to drop the legacy mgw there will be 1:1 asset swap’.

SuperFIBRE (multisig details in development) and the SN versions of BTC, DOGE and others will soon be added. See https://multigateway.org for more information.

When you fund your SuperNET Wallet, the corresponding tokens will automatically show in the AE of your Nxt account where you can trade them manually for NXT or other assets, for example US$-pegged CoinUSD asset (ID 12982485703607823902) or the EUR-pegged equivalent (ID 18331302471589054607), which are also Coinomat gateways to fiat, via SEPA transfers to VISA / Mastercard.

MGW fees

‘Current MGW withdrawal fees are based on coin transaction fees and Nxt transaction fees, which need to be covered by the service. Since fees are subtracted from, for instance, BTCD withdrawal, there is a value in the servers’ configuration that defines the approximate equivalent of the NXT transaction fee in BTCD. Then the system applies twice that amount (covering the asset transfer and messages costs) plus a safe amount based on the regular BTCD tx fee, keeping in mind that multisig transactions may involve higher fees than regular ones. When InstantDEX brings price feeds, these “approximate equivalents” should refer to current market rate.’

‘The Fibre dev team has been represented in SuperNET Slack for more than a month but has always made it perfectly clear that Fibre was part of the Blocknet initiative. Recently, a real attempt to fulfill the requirements to integrate Fibrecoin in SuperNET as a CORE coin was started; opening Fibre’s source core tech to SuperNET analysts (the review was done by chanc3r), and after that, a swap of SuperNET assets with Fibre assets was required’, writes Eth.

We welcome the FIBRE Team and look forward to finding out more about their forthcoming projects.

Jay dividend

The Jay dividend is ready for distribution. 7.5% to SuperNET, 7.5% to NXTventure and 5% to JLH (jl777hodl) will be distributed. This will occur when fewer than 8,161 SuperNET assets are left in BTER. At the time of writing, BTER’s cold wallet has just over 20,000 SuperNET assets in it.

Jay (ID 8688289798928624137) will allow people without any software on their system to run the SuperNET GUI and access all coins. Jay will get an InstantDEX revshare when it makes a lite-InstantDEX. ‘I added a ‘GUI’ field so we can track which GUIs the orders are coming from’, writes James.

InstantDEX

‘InstantDEX core API is feature complete other than automatching hybrid orderbooks’, James writes. ‘Got the asset<->asset trading working and looks good. So now what is left is the most advanced case (hybrid orders), which isn’t even necessary at first and making it automatch and chart signals.

Then I will switch over to network security enhancements while the testers are pounding on it.

So, the ramchains, realtime MGW and InstantDEX should go into maintenance mode for me very soon. Then the security revamp will be squeezed in and that leaves Tradebots and Privatebet. Once I get the raw data parsed properly, I was just going to create a transaction list, along with summary stats for each asset that was traded and a global summary too.’

InstantDEX is getting inputs from the central exchanges, NXT AE and its own orderbook, so from a single display you can see prices from all the places at once.

API level testing of InstantDEX

InstantDEX is progressing nicely – and, more to the point, is working effectively. ‘Trade completes faster than I can switch tabs! The only difference performance-wise from a central exchange is if you don’t have any inventory of something, then you can’t retrade it until you have enough confirms. I will let each node decide what “enough confirms” means. But if you are trading with plenty of inventory and have enough aged assets, then you won’t even notice this.

‘Another nuance is that even though the trade is locked and done (like after hitting Send Money), until there is at least one confirmation, there is always some very small chance that it won’t get confirmed. I am talking about a big blockchain event or some sort of attack scenario. However, even in such unlikely events, all the components of a trade are atomic swaps of NXT <-> asset, so at worst you have a dangling half of the trade, but you didn’t lose any funds. As with any trading, if the market moves against you, well, not much can be done about this

‘So, not quite 100%, but 99.99%+ with the downside being partial fills. Since the performance is fast, the security of not having to worry about any central exchange is well worth this and I hope that people will be able to understand the slight difference. For the cost of one out of many thousands of trades not completely filling, needing to wait a block to be sure it confirmed, and some users requiring N confirms, we get to trade without worrying about the exchange dying. This being said, if you are trading assetized crypto, I still recommend to withdraw after you are done trading, if only so you can be staking. And nothing is as safe as your local wallet.’

Testing help required

James writes, ‘I made an instantdexbeta private group, only for people who will actually test, no spies. The best testers are usually becoming very good coders. This is because a lot of coding is about finding and fixing your own bugs.’

DM James in Slack for access – but only if you have the time to really test it.

InstantDEX Lotto

James writes, ‘My idea is to fund a monthly lotto with this 5% [the unallocated InstantDEX revenues], winner take all (shared between all that tie).

If total InstantDEX revenues are 20 million NXT, this is a 1 million NXT monthly jackpot, and each 2.5NXT fee you pay to InstantDEX gets you a lotto ticket.’

For those who still don’t understand how the pieces fit together (which is understandable, when there are so many pieces), InstantDEX can be considered ‘the grand central station of SuperNET. It connects everything to everything else and the more popular it becomes, the larger the monthly lotto. The high end of projections have it up to $100,000 per monthly lotto. At NXT blockchain saturation levels, NXT itself will be at least 2x if not 4x. It all combines to help everything else – and not to forget about BTCD, which is getting an InstantDEX revshare.’

Half-anon Cryptocards available

The half-anon VISA cards are now available to order – but not yet officially launched. Coinomat writes: ‘We are waiting for a dozen successful orders and activations to announce it officially.’

Getting your own card is simple, just register on coinomat.com, click the ‘First Swiss Card’ menu link and follow instructions.

Cryptocard is a semi-anonymous way to cash out cryptocurrency to an ATM card. Photo id but no bank details are required, meaning that a resale market can provide a convenient and private way to move funds from crypto to fiat. Cryptocard was originally funded by the BTCD community, and Coinomat will integrate BTCD within 2 weeks, and then start integrating the other SuperNET coins.

VPN BOUNTY

James has organised a 10 million VPN bounty for a new dev to join the team.

‘I would like to offer a bounty to make VPN for non-Windows environment to link up to the VPNcoin Windows VPN. There are several methods possible. One is to have a separate VPN and bridge to the Windows. The other is just to connect directly to the Windows VPN from unix.’

There is a 10 million VPN bounty for a working solution.

BTCD and Nxt

A reminder about BitcoinDark and Nxt’s status as lynchpins of SuperNET, and the financial benefits holders will enjoy:

Nxt

5% revenue share from SuperNET goes to NXT core development. And InstantDEX fees are paid in NXT, because SuperNET has NxtInside. James writes: ‘At 50 trades per minute it saturates current NXT blockchain (makes NXT earn 10% per year), but NXT devs say they can boost this capacity pretty easily. With average fees of 6 NXT per trade that is 300K NXT per day or 15 million per month. So even at current ATH prices InstantDEX is trading at PS ratio of 5 and PE of 10.’

Nxt is clearly one of the few platforms that’s going to survive long term, making it not only a safe place in which to trade and park your funds but also a hugely prosperous one as well, once (as anticipated) it’s earning 10% per year.

Nxt is going to present the key speech for crypto at this year’s PayExpo 2015. Damelon writes: ‘I want to invite ALL Nxt related businesses to provide us with their promo materials and relevant information! We are not there just as the platform, you also can get your products and services out there! This Payexpo will have a separate part especially dedicated to cryptocurrencies!

‘We are co-organising this, so if you feel you want to help out with this and have workshop experience or knowledge: let us know! Also, help us raise the last 500,000 Nxt to go here. We already have gathered a significant amount thanks to all of you. Let’s get this last part together. Donation address: NXT-ZGDQ-W9Q3-YFK6-4L8F4.

Read more on the Nxt Forumhere or join SuperNET Slack channel #payexpo to learn more.

SuperNET CORE coins

As the name UNITY suggests, SuperNET is not a coin but a cooperation between selected coins. If you’ve been following the SuperNET Newsletters, you will know that all SuperNET CORE coins have been chosen with great care. No copycats, no simple clones, no scamcoins pumped by a huge marketing budget: only truly innovative, useful coins with active developers.

SuperNET welcomes FIBRE

This means new tech, new developers, and a new community being added to the SuperNET family.

FIBRE, a young innovative coin whose launch was announced on November 5, 2014, is without doubt among the most promising altcoins in the crypto sphere, with active developers and a great portfolio of innovative features. FIBRE has a total coin supply of only 625k.

Fibrecoin also meets the rest of the requirements to be eligible for integration into the SuperNET CORE; from a technical point of view, opening their source core tech to superNET analysts (review done by chanc3r), and from the financial point of view, which required a swap of SuperNET assets with Fibre assets. To achieve this the help of the Fibre community was summoned. Most greatly welcomed the idea, collaborating not just with words but also with coins.

killakem, Fibrecoin:

One thing we offer that most don’t is an active team dedicated to this project. Someone from my team will be active in our slack channel around 18 hours a day. We have 2 in house developers and have a large network of freelancers that we can call on as required. Our lead dev Mammix2 is a seasoned crypto developer with his own accolades.

Main features of Fibrecoin:

FibreOS

FibreOS is a secure and anonymous operating system, a custom built, optimized and hardened Ubuntu environment based on the latest version 14.04LTS. The OS and Fibre Wallet data files are stored on SD or USB, and leave no trace on the host PC when unplugged.

FibreLock

FibreLock is a security feature that removes the keyboard from the password entry process by using an android style pattern based locking system. All inputs come from your mouse and your pattern becomes your password.

FibreConnect

FIBRE’s encrypted messaging system: FibreConnect also contains Notify, which allows messaging any wallet on the network. This can for example be used for sending out important update information.

FibreDark

The FibreDark wallet allows you to choose between using a standard Fibre wallet or awallet that will automatically connect to the Internet using the TOR Network, which will make your IP address and location hidden. FibreDark does not rely on TOR exit nodes, which are considered to be the weak link in the TOR network. The FibreDark wallet has hard coded onion addresses that point to new FibreDark nodes, which have been brought online to support the FibreDark network.

DarkNodes handle the routing of data between the TOR network and the standard Fibre network.

Fibre Mixer

Keeps your transactions private.

ZeroTrust

Feature under development.

OCUPY.net

Fibre is part of the OCUPY.net platform.
Fibre ZeroTrust will be the official transaction protocol of the Ocupy network.

Opal Coin is happy to announce the release of Opal Drive, the latest addition to the Opal cryptocurrency. Encrypted with the same system used in Opacity, which allows a user to encrypt a file with another user’s private key using only their public key, Opal leverages Storj’s existing MetaDisk infrastructure. By using Storj’s MetaDisk infrastructure, users will be able to upload, transfer, and decrypt files all in the wallet via the Storj MetaDisk API. Opal announced Opal Drive February 24, 2015, and is expected to have a basic demo release within 2-3 days which will allow users to upload files with the ability to transfer data coming shortly after.

Opal from the ground up was designed to be an all in one solution for anonymity online regardless. Receiving a 7/7 from Coins Source and a 5/5 from CryptoAsian, Opal is a well-known and trusted cryptocurrency in a competitive altcoin ecosystem. Opal announced the project several months ago, but recent headlines of sensitive information only served further to prove the need and accelerate the development of a decentralized files storage system. With encrypted messages as well as anonymous transactions fully functional, secure cloud storage was the next natural step.

By implementing completely anonymous “push” security, Opal is applying a method first found in cryptocurrencies. By using “push” security, users can only access files that are marked retrievable, a crucial step that alone defends information from prying eyes.

Opal expects that Opal Drive will be used by businesses and individuals alike to store confidential information safely in the cloud. In a digital world where centralized storage solutions are prone to hackers and government seizure, Opal offers a decentralized solution.

Lead developer of Opal, Whit Jack, stated: “Opal is excited for the potential applications of a decentralized file transfer protocol, based on the same technologies as bitcoin and other cryptocurrencies. We believe that we can greatly improve the file sharing industry by protecting against hacking, spying, and other nefarious situations.”

Opal has many other projects in the work, such as colored coins for example, which will allow cryptographic loyalty programs and provably fair gambling. Opal has many features planned out in its roadmap, with Opal Drive to be rolled out soon.

About Opal

Founded on September 11, 2014, Opal is a privacy-focused cryptocurrency that had no ICO, IPO, or premine. Consisting of a team of 10 members with skills ranging from marketing to coding and development, all expenses are covered by the development team. Opal is currently traded on 6 exchanges and offers a wallet for every major operating system.

As the name UNITY suggests, SuperNET is not a coin but a cooperation between selected coins. If you’ve been following the SuperNET Newsletters, you will know that all SuperNET CORE coins have been chosen with great care. No copycats, no simple clones of Bitcoin, no scamcoins pumped by a huge marketing budget: only truly innovative, useful coins with active developers. Here they are in a flash…

Nxt

Nxt is currently the frontrunning 2.0 cryptocurrency platform, meaning that it enables far more than simple cryptocurrency transactions. Nxt offers a wide variety of powerful blockchain-based features, both in the core and as 3rd party services. Nxt is where James, the inventor and lead developer of SuperNET, started his journey into the crypto world.

Nxt core functionality includes Arbitrary Messaging (uploading encrypted data to the blockchain); a decentralised Marketplace (think eBay for digital goods, without the fees and servers); the Asset Exchange (based upon what Bitcoiners refer to as ‘coloured coins’, with the ability to issue assets representing for example shares in a company, paying dividends to asset holders, etc); a decentralized DNS-system; crowdfunding – in fact a whole new Monetary System, for issuing new customizable decentralized currencies on top of the secured Nxt blockchain – and soon a p2p voting system and multisig transactions (allowing, for example, math-based escrows and Nxt / asset / Monetary System-coin holders to vote on whether to veto or recognize a transaction), and more.

Nxt is a platform, meaning it was designed to be built upon. James was one of the first people to see this, and his brainchild SuperNET has emerged from (and combines) many projects started on top of the Nxt blockchain. It was natural for him to base SuperNET on Nxt, and so the 1.0 coins in SuperNET all gain their 2.0 features from Nxt.

BitcoinDark

BitcoinDark (BTCD) started as a side project for James as programmer. As time went on, it developed into a whole new technology. Rather than being a simple coin, BTCD is now a whole anonymity ecosystem. ‘Teleport’ functionality makes it extremely difficult to trace transactions on the blockchain, and ‘Telepathy’ makes it nearly impossible to track them off the blockchain.

BTCD provides SuperNET with the anonymity required for secure private transactions. If Nxt is the 2.0 engine that gives users all the functionality they need, BTCD is the highway that connects all the different services available. It’s also the first coin to pay dividends to its holders. 5% of SuperNET revenue will go to stakers.

VeriCoin

Current VeriCoin features include VeriBit – paying for anything with VeriCoin anywhere that Bitcoin is accepted; VeriSend – optional coin mixing for privacy; VeriSMS – a service that allows VeriCoin to be sent to/from nearly any cell phone in the world using SMS (text messaging). There will also be a special SuperNET feature – stay tuned for more information!

OPAL coin

OPAL has a number of features that fit with SuperNET’s goals. It implementsPeter Todd’s stealth addresses so that users receive funds through the use of a public address; funds transferred to this address are not visible on the blockchain as they are sent to an alternative hidden address.

Opal drive enables decentralised storage of encrypted files, built on top of Storj‘s API. The project is under development and has received the help of Shawn, one of Storj’s core developers.

OPAL has also integrated colored coins and has encrypted messaging.

https://soundcloud.com/supernetradio/4-jan-15-interview-with-whit

BitstarCoin

Its purpose within SuperNET is to make available a network of ATM units to enable buying and selling of SuperNET currencies – as well as other cryptocurrency-related services than can be offered to ATM users.

VPN coin

VPN coin will be the native currency of this network. BitNET is a cross-currency network that includes VPN capability, support for voice and video chat, file transfer, p2p domain and website creation, tipping and more.

FibreCoin

FibreOS is an anonymous optimized and hardened Ubuntu operating system. The OS and Fibre Wallet data files can be stored on SD or USB, and leaves no trace on the host PC when unplugged.

FibreConnect is FIBRE’s encrypted messaging system. FibreLock is a security feature that fights keyloggers by removing the keyboard from the password entry process. FibreDarkWallet allows you to automatically connect to the Internet using the TOR Network, which will make your IP address and location hidden. FibreDark does not rely on TOR exit nodes, but has hard coded onion addresses that point to new FibreDark nodes. ZeroTrust is a trustless decentralized mixing technology, which makes your transactions 100% anonymous (according to the FIBRE Team).

Pending…

Boolberry

SuperNET is financially attached to BBR. The Boolberry tech is not implemented into the core yet.

Boolberry is a cryptocurrency based on CryptoNote technology. It uses ring signatures to provide anonymity for its users.

Ring signatures are effective because any one of a number of accounts could have signed a transaction, raising doubts about where the funds originated. Boolberry (BBR) avoids the blockchain bloat problems of other CryptoNote-based coins with an innovative form of blockchain pruning, reducing the blockchain by some 55%.

Although BTCD’s Teleport offers strong anonymity for SuperNET, this will be complemented by BBR; Boolberry transactions will provide on- and off-ramps for funds to move from the regular blockchain into BTCD’s anonymous ‘hyperspace’.

ChanceCoin

SuperNET is financially attached to CHA, but the lead developer has gone. jl777 has a big bounty for anyone who can continue the project. James writes:

If we get a java dev, it can be taken over. I can offer 1% of chancecoin to the new dev that is taking over. chanc3r said the tech was good.

Chancecoin was developed for the purpose of betting on dice rolls and other games in a decentralized casino. Casino gaming has a great userbase and decentralized gaming may soon become a core market for crypto.

Randomness is provided by published NY Lottery Quick Draw numbers, and owners of the coin are automatically invested in the house bankroll. Chancecoin’s protocol is built on top of the Bitcoin blockchain; the coins were created by burning Bitcoins during an initial proof-of-burn period.

Coins outside the SuperNET CORE

Only coins that bring one or more unique features to the network will be added to the core, though any other cryptocurrency can benefit from these features on a third-party basis. (For example, Litecoin would not be eligible for addition to SuperNET. However, it would still have access to Teleport, InstantDEX and other services).

In other words, any 1.0 crypto coin can enhance their wallet with SuperNET.

This will give them access to trading on SuperNET’s distributed exchange, all of its fully decentralized services and features, from the coins described in this article, other SuperNET CORE features as well as more 3rd party features developed for SuperNET.

The prize

One SuperNET silver coinThe coin is from a limited edition mintage of 1,000 physical .999 grade silver coins.
This standard silver mintage is the first in what will be a series of mintages, including antique and gold on silver, expected to be issued soon.

The coin is of ‘Proof-like’ quality, minted by Northwest Territorial Mint and presented in a plastic capsule.

Design:

Pondsea (the coinman) has chosen to issue the coin as an asset on the Nxt Asset Exchange, so it can be traded. The Asset ID is 1976421459488798622 and the issuing account NXT-F8QG-GNXA-U5TW-6DX3K. The asset represents the coin itself, so the winner can redeem the coin by sending the asset back to the issuer’s account with an encrypted message including an address to which Northwest Territorial Mint should send the coin. The shipping cost is included in the prize.

WHAT ELSE?

100 NXTP assets

Every month we send NXTER.ORG’s net profit out to our NXTP asset holders.
It’s a reward for their contribution, and now you have the opportunity to own some NXTP too.
You can either sell it or keep it and enjoy the dividends.

Submit Your Entry Here

But before doing so, don’t forget to read all the ‘small print’. : )

[contact-form-7 id=”6248″ title=”Enter contest”]

Terms and conditions (the ‘Small Print’)

By submitting an entry to this contest you will be deemed to have read, understood and agreed to these Terms and Conditions.

The contest and the prize to be won are as described in this article.

You can submit as many entries as you like.

An entry can be made in any language.

Entries will be published on NXTER.ORG from the 1st of March.

Submissions will not be edited in any way BUT
NXTER.ORG may exclude submissions because of illegal content.

All the entries (except for any excluded because of illegal content) will be put up for voting on nxtforum.org/nxter-org/win so that the Nxt Community can choose the winner. No Average Joe audience, please the geeks or loose, you geek!

The entry with the most votes wins.

The sender of the essay / story / meme / code / video / comic / whatever judged the best by the Nxt Community will be rewarded with 1 collectable SuperNET silver coin and 100 NXTP assets sent directly to the NXT account that was specified in the winner’s entry form.

The winner takes it all: the SuperNET silver coin and the 100 NXTP.

The winner will be notified in a NXT arbitrary message.

NXTER.ORG cannot be held responsible for any problems regarding the silver coin prize, its delivery or the winner’s ownership of it. If there’s a crack in the silver coin’s plastic capsule or any other issues with the redemption of the silver coin asset won, contact the issuer, Pondsea. If you are not allowed to own silver or anything Nxt-related in your country, and the police turns up and shoots your dog or something – you shouldn’t have entered the contest. It is up to YOU to comply with the relevant laws in your state and country. We are not responsible for your actions as a human being and citizen of planet Earth (and the country you’re in). Not. our. responsibility. The same, of course, goes for the NXTP assets.

NXTER.ORG will not collect any personal information from the contest entrants.

By entering this contest you give us permission to publish your entry alongside your NXT acct ID on http://test.nxter.org and http://nxtforum.org.

The winner will also be announced on NXTER.ORG’s frontpage, in the nxtforums and in SuperNET Slack #announcements, and probably in various other places too.

NOW, if you agree to these terms and conditions, you may enter the contest. : )

SuperNET v1 – soon!

We had hoped that we could announce the public release of the official SuperNET v.1 client and give you a download link to the fancy new wallet too, but… a new idea arose, new innovation was developed, yet more code was written by jl777, the GUI had to be adapted in response, and – not least – the client simply needs more testing. Most important of all for this SuperNET release is that it MUST be easy to use. SuperNET intends to reach outside of traditional crypto circles to Average Joe, and it must therefore be Joe-ready. That includes a neat installer, to avoid all the regular issues of downloading and unpacking the client.

If you’d like to help speed up the release process, ask how you can help test the new client on Slack. James writes, ‘API channel is testing the realtime MGW. v1 GUI that uses same API is internally released. New MGW servers with all 5 ramchains is in realtime mode. So a few more things need to get cleared up, but it is happening.’

In the meantime, James continues programming, along with an ever-increasing number of CORE coin- and 3rd party feature developers. The Slack community also keeps growing (391 in SuperNET Slack now), making it probably the largest concentration of talent and support in the crypto world. The main features for the next version of the SuperNET client are already taking shape, but let’s stay with the scheduled release for now. The client we’re waiting for is a user-friendly Multiwallet containing the SuperNET CORE coins (BTCD, OPAL, VPN, VRC, BITS and NXT), as well as BTC and DOGE.

SuperNET Silver coins

Pondsea has been working on some SuperNET silver coins, a limited edition mintage of 1,000 in .999 grade silver, numbered 0-999. The Asset ID is 1976421459488798622 and the issuing account NXT-F8QG-GNXA-U5TW-6DX3K.

The asset represents the coin itself, which can be redeemed at any time by sending the asset back to the issuer’s account along with an encrypted message including your address. The redeemer of the coin will be sent a cost for shipping, which they will need to pay to receive the coin.

Pondsea writes, ‘I made it as an asset on the AE so people can trade it. I am basing the coin at $45 USD, but Slack guys get an extra 10% of the asset up to 1 free coin. I know some will take advantage and buy 10, get the free coin then sell the 10, but I don’t think many will. Just buy it and let me know from what account and I will shoot you the bonus.

‘Just for total disclosure, my cost price for the first 100 is about $40, price will go down slightly when I mint in batches of 500/1000 or when I have the demand to twist the mint’s arm.’

Each CORE coin in the Supernet will get a free silver coin to donate to their communities from Pondsea, and James has bought 100 of the 1000 mintage to use for a special project.

Ramchains

Btcddev has created a ramchain-powered block explorer, which can be found at http://104.131.45.236/ ‘You can do things like make a quick rich list, etc. You can see the time it takes to parse the blockchain for the richlist at the bottom of the page… usually gets ~40-70ms.’ For the uninitiated, this is an almost unimaginable increase in speed over traditional blockchains.

James has had to build in deliberate delays. In fact, the speed with which ramchains operate has caused some unexpected problems during testing. ‘There seems to be a glitch… I think it went too fast! What looks like happened is that the deposit got processed instantly, before the NXT address was filled in to the payment module! Being able to rescan entire blockchains in 10 milliseconds creates a lot of unexpected problems.’

As well as being faster, ramchains are far smaller than regular blockchains – the most highly ‘distilled’ version may be between 10 and 20 times smaller, and the data is ‘orders of magnitude more efficient to operate in the distilled space… but it is not just about the raw compression ratio, but the effective active memory footprint required to do useful calcs.’

MGW

Development on MGW has accelerated markedly since James implemented ramchains. ‘I can make 100+ test builds per day of MGW so it can rapidly evolve and in fact, instead of changing MGW to use ramchains I just added MGW functionality directly into ramchains. When it takes an hour to just find out that you had a typo and you have to restart again, it is quite difficult to debug as it is easy to get distracted. And then you make more mistakes, leading to more test builds needed, etc… with ramchains, I have to slow it down. It makes it a lot more fun to develop with near realtime feedback. So, I expect to be enhancing ramchains with InstantDEX, Teleport, etc’.

‘It has been a marathon to get ramchains done so I can get realtime MGW done, but as far as my work, these are pretty much done for now. We can test all SN gen1 coins at the same time, as the MGW servers already have realtime ramchains for all the supported coins.’

A separate feature autoconverts some of the deposited currency into NXT, which is necessary for certain transactions – further reducing the friction of getting started. It also registers the public key (a point of some discussion in Nxt circles…). ‘Time from starting to getting a funded new NXT acct (with pubkey) and BTCD assets ~3 minutes.’

MGW works on three independent servers, which must be in agreement to allow withdrawals. Because these are typically in different timezones, setting them up can be tricky. Once debugging is complete, various coin communities will run different servers. ‘Servers with the 5 coins are run by VRC, OPAL and BITS devs along with vanbreuk for the [NXT] bridge. With the realtime MGW, one triplet will be able to handle pretty much any volumes the blockchains can handle, in either direction. Though the withdraw side for this is yet to be proven and could have some issues with too many withdraws at once requiring time to catch up.’

New lead API developer

Bassguitarman has become lead API developer for SuperNET: ‘We added 2 new api calls, Python and bash, so now you can embed python/bash inside SuperNET.’ Expect more news.

SuperNET buys JinnLabs technology

###
870,000 NXT for a special technology transfer that will enhance the privacy of SuperNET. all the tech is trinary based and developed by JinnLabs. code to be created by Come-from-Beyond

details will be sent in PM
payments would be made to Jinn acct

James

###

Watch this space for more details on what’s involved.

Tradebots

Tradebots are waiting for InstantDEX, which however will be launched with a tradebot. Join the Slack discussions around what capabilities the tradebot should have.

Cryptocards

The semi-anon card from Coinomat is almost ready to ship now.

(The bank’s logo has been blacked out for now.)

Additionally, Coinomat has released coinoEUR, an asset tied to the Euro to accompany their USD-tied coinoUSD asset. Both can be bought through coinomat.com, traded on the Nxt Asset Exchange, and withdrawn at any time to your bank card or to PerfectMoney, Egopay or Okpay.

SuperNET Radio

lootz writes, ‘SNRN Decentralized solution is in place, it will take time to embed in all the sites. Each site will eventually have the centralized version and the decentralized version. Difference is the centralized hosts will know every ip listening to it and decentralized player alternative will keep your ip address only known to the listener who is rebroadcasting the stream to other listeners. Which is very random and most listeners do not know how to obtain this information.

BITS

Bitstarcoin is releasing a new wallet and website shortly, as part of the preparation for developing their p2p ‘localbitcoins-like’ in-wallet exchange further, which will enhance superNET’s range of crypto<>fiat routes.

SuperBITS

‘Due to Bitstarcoin being part of SuperNET, a ‘2.0’ equivalent to BITS has been created on the NXT-based platform which you can trade into and out of by way of the SuperNET Multigateway on a 1-for-1 basis.

1.0 = BITS
2.0 = SuperBITS

1.0 remains on its own blockchain and wallet, to which some modifications and updates are coming. 2.0 (SuperBITS) operates within the NXT-based platform and can therefore be incorporated into numerous decentralised services such as the Asset Exchange, amongst other features and functions available now, soon and in the future’, explains Bitstar_coin.

CHA

Press

SuperNET hasn’t started a real marketing campaign yet, since the preference is to finish the tech and market something that works rather than just sell hype. All the same, we’re gaining some interest. Take a look at the following articles:

SuperNET Wiki

The SuperNET wiki needs a little more attention. Noashh writes, ‘SuperNET Wiki at http://wiki.supernet.org – please help to populate it, especially when you’re working on any SuperNET related projects. Everyone can make changes after signing up. Contact @js.galt or me for any questions.’

The SuperNET Newsletters

A very big thank you to everyone who is working so hard. Keep up the good work! We catch what we can, but noone should be able to keep up with decentralized innovation. That’s the power of it!

So if you’re in a SuperNET related coin or project, please post your updates and announcements in Slack channel #announcements, or contact apenzl directly, to make sure you get your deserved spot in the newsletters. Thanks in advance, and see you next week!

Post navigation

Quote from: mael on Today at 07:53:25 pmother thing: the adress who got my NXT (NXT-XVBJ-B8VA-Q7MB-HGZXQ) has received a lot of transactions the same day, same hour. What's this ?This appears to be someone run...

yes, I will do that for Ignis snapshot.I just trusted bter when they announced they will take the Ardor Snapshot.Look, this is what you can find looking on archive.org a version of bter main site on September, 18th, 2016[url=https://web.archive.org/...